Specified business
for how many years can the loss of specified business under section 35AD be carried forward?
Replies (3)
Loss from specified business u/s 35AD can be carried forward for any number of years untill it is fully set-off...But such loss can be set-off only against Income from any other specified business.
Thanks ....
Loss of specified business of section 35AD can be set off against current year and future years only against the profit of any specified business referred in section 35 AD and can be carried fwd for indefinitely period.
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