IS BUSINESS LOSS OF A PROPRIETORSHIP CONCERN CAN BE CARRY FORWARDED ?
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Query about proprietary concern
Replies (4)
yes it can be carry forward.
Yes it can be carry forward
yes , BUSINESS LOSS OF A PROPRIETORSHIP CONCERN CAN BE CARRY FORWARded
as there is no provision for reserve in proprietory business, so the losses would go to capital account. however it would get carried forward in tax returns for adjustment in forthcoming years.
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