Deceased individual return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 June 2011 Sir,

Mr. X died and his will is 2/3 wife and 1/3 son , he has carry forward loss in his personal file . Can now as estate return the Carry forward losses benefit can be taken if same business is carry forward by wife and son.

pl suggest or guide me for particular sec. applicable.

Thanks

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

03 June 2011 REFER TO SECTION 78(2)

CA MANOJ GUPTA
JODHPUR
09828510543

Querist : Anonymous

Querist : Anonymous (Querist)

06 June 2011 thanks you very much sir, but for more clarity the section reads that otherwise than by inheritance nothing in this section is entitled, that means if by will then we will not able to take the benefit of c/f lossess.

Upgrade to CAclubindia Pro. Subscribe Now!