carry forward

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vikash (Querist)
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27 April 2010 Is any business loss can be set off/carry forward for unlimited period of time?

Any difference between setoff and carryforward?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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27 April 2010 Business loss can be carry forward up to 8 years and set off with business income

Taranjit Singh

Taranjit Singh (Expert)
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27 April 2010 Losses under the head Business or profession is fully adjustable against any other head of income except Salaries in the same year. Loss under the head Business or Profession can be carry forward for a period of 8 years and can only be set off against profit and gains from business or profession.

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CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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27 April 2010 Agree with experts, yes business loss can be carry forward up to 8 years only.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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27 April 2010 agree

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 April 2010 AGREE WITH EXPERTS.

CA BHUMIKA

CA BHUMIKA (Expert)
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28 April 2010 ya i agree with all experts but i want to tell u that there is difference betwwen set- off and carry forword.carry forword means loss carry to next yaear and if we have sufficient balance and act permits then we set off loss of privious year in current year.