Our company has two locations one is a normal unit and the other is SEZ Unit. We are maintaining accounts for both of them seperately, PAN number is same for both the units. We have incurred profit in SEZ unit and loss in normal unit. Now when filing annual return of the company whether we need to do two seperate returns or the can combine both and loss can be set off against SEZ profit. Please help me.
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SEZ Taxation - Urgent
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if P/L, balance sheet, bank accounts and relevant registrations under vat/service tax and excise are separate for each unit, then he has option to carry forward or set off, but if the P/L, bank account and balance sheet is consolidated then he has to set off in current year only taking the net effect as net profit.
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