If the Private Limited Company opt for Section 115BAA, then Losses will be carried forward to next year and can we utilize against the business profit?
Menu
SECTION 115BAA FOR PRIVATE LIMITED COMPANY
Replies (1)
Only the losses that related to the restricted exemptions and deductions u/s 115BAA (like deductions u/s 32, 32AD, 33AB etc) are required to be excluded from the total amount of brought-forward of losses. Apart from these, uou can carry forward the losses and set it off against business income.
Recent Topics :
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
Related Topics :
CAclubindia
