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?
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SECTION 115BAA FOR PRIVATE LIMITED COMPANY
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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.
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