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(Querist)
20 September 2009
hello friends

a company in f.y 2008-09 made losses for rs. 25000 but but he received interest income from FDR rs 162450, can we set off losses for rs, 25000,

company is demostic & its business is marketing

plz tell me taxation inthis reagrd
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
20 September 2009 If the deposit is in the name of the company and interest is received by company then set off is possible.

If the deposit is in the name of the individual and interest is received by individual then set off is not possible.
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
20 September 2009 Yes u can.
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