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is Income Tax Paid on net loss ?

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(Querist)
30 October 2009 Dear sir,

Is income tax is paid on Net loss in a trading account ?

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Rajeesh
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Praveen Sharma

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Praveen Sharma (Expert)
30 October 2009 NO Income Tax if there will be Net Loss under head PGBP for computing tax liability.

Regards
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shijo

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shijo (Querist)
30 October 2009 Thanks a lot sir
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