There can be profit and also losses in every type of business, where losses are difficult to digest. Though Income Tax Act in India provides for the benefits of losses too. The law contains the provisions for set off and carry forward of losses.
It is possible for an individual to have income under more than one head. The Income Tax Act has prescribed rules to set-off loss arising from one head against other heads of income. The process of setting off of losses and their carry forward can be dividing in following steps: # Inter...
Carry forward of Losses Though there are provisions for set off of losses through intra-head and inter-head adjustments, there are chances that the losses remain unabsorbed. Such unabsorbed losses can be carried forward. Unlock Ad-Free CAclubindia and Daily Mobile Updates! Instant updates via Wh...
aUtility knife with snap off points 公共刀子与短冷期点 [translate] aSorbitol Сорбит [translate] aWhen a firm has tax losses that it cannot use to offset taxable profits during the previous three years, it must carry these losses forward in time, hoping to offset them ...