Hi friends
My Query is
The Private Limited Company opted for Section 115BAA in the FY 2019-20 with Business losses and filed form 10-IC.
in the FY 200-21 also losses in business
in the FY 2021-22 company showing profits
the losses incurred for the FY 2019-20 and FY 2020-21 is available for carry forward and set off against profits of FY 2021-22 ??
pls share the source
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Sec 115BAA
Replies (1)
No. The losses incurred in preceding two years were not allowed to be carried forward...
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