21 June 2010
It is difficult to answer this ques in general as there are many sections which are related to it. So its better if you can ask the detailed question mentioning the case.
21 June 2010
sir, in the above case a charitable trust which look after the protection of cows usually incur loss as the expenditure will be more the income and in the current year the income is come and in computation the trust is getting income after 15% accumulation u/s.11(1), so can we set off the previous losses with current year income.............
CAclubindia
