EASYOFFICE
EASYOFFICE
EASYOFFICE

set off & c/f of losses

This query is : Resolved 

13 May 2016 whether agricultural loss is allowed to be carry forward & if yes agianst which income it can get set off & if no than please specify the reasons. dicription is need in both the ans.

13 May 2016 Agricultural income is exempt from tax, hence, if the taxpayer incurs loss fromagricultural activity, then such loss cannot be adjusted against any other taxable income.

13 May 2016 so is it allowed carry forward it ???


20 October 2021 No. Because it cannot be set off with any other income. While agriculture income would be free otherwise.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries