In schedule CFL:
In AY2009-10 I made a loss of 35000
In AY2010-11 I made a profit of 18000
In AY2011-12 I made a loss of 2000
So my total earlier losses is (35000-18000+2000)=19000.
But it does not allow negative values. So how do I depict this? If I leave AY2010-11 blank then total earlier losses is shown as 37000, which is wrong.
Can you please help me by suggesting how to handle this?
Thanks,
Subhra Majumder.
Once you set off loss, you cannot carry carry forward it to subsequent years. Though your contention is not to avail double benefit of rs. 18000. But still against, Asst Year 2009-10, only 35000-18000 = Rs. 17000 will be written
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