Shyam Murarka (CA) (102 Points)
26 September 2008As per sec. 73 amendment..w.e.f. A.Y. 05-06, the permissible years of carry forward of losses are 4..(before that it was eight).. so what will be the consequence for the loss which are already been carry forwarded as on A.Y. 05-06..
Suppose loss incurred in A.Y. 2003-04 will be carry forward till 8 yrs. or 4 yrs.? 
G.M.Muthu
(Associate)
(54 Points)
Replied 26 September 2008
4) "No loss shall be carried forward under this section for more than[four] assessment years immediately succeeding the assessment year for which the loss was first computed."
Abovementioned Matter stated in Bare Act ,
therefore the conclusion is If Loss Computed after A.Y.2005-06 those losses only Must Carry forward for 4 Year,
A.y 2005-06 Berfore Loss Can Carry forward for 8 Years
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