In case I have brought forward business loss of Rs. 200,000 and this year my income from business is Rs. 260,000 and that is my only income, is it necessary to claim whole brought forward loss or only to the extent of Rs. 100,000 & can that 160,000 be carried forward to subsequent years?
we are claim all carry forward losess...................
Whole B/F loss to adjust and not part in your case
whole loss will be set off in this year and only Rs.60,000/- income will be included in your total income for this year
R P S K & Associates
Nashik
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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CAclubindia
