Pls tell me whether loss of Financial year 2008-09 will allowed as set off in Financial year 2009-10 in following case:
BusinessLoss FY 2008-09 -100
Dissallowed U/s43B 200
Taxable income for 08-09 100
(Loss FY 2008-09 = 25 Depreciation & 75 business loss)
in this case there is no loss in PY 2008-09.
there is profit of Rs 100
As per section 29 profit or gain is calculated by giving effect from section 30 to 43C
so after giving effect of section 43B you have profit not loss.
Aggarwal Sarawagi and Co
New Delhi
CA
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
Karia Overseas
Ahmedabad
CA
View Details
CAclubindia
