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CARRY FORWARD OF LOSS

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 July 2010 IN CASE A PERSON IS HAVING LOSS FROM HIS BUSINESS & HE IS NOT MAINTAINING BOOKS OF ACCOUNT(SMALL BUSINESS WITH TURNOVER/INCOME BELOW 10L/1.2),STILL HE CAN CARRY FORWARD THOSE LOSSES OR IS THERE ANY RULES FOR CARRY FORWARD OF LOSSES IN REGARDS TO MAINTENANCE OF BOOKS OF ACCOUNTS.
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srinath

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srinath (Expert)
31 July 2010 maintaining of books is not a criteria for carrying of losses

if return has been filed on or before the due date then he can carry the losses

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