set off loss
This query is : Resolved
27 January 2010
If a proprietorship firm has suffered loss of Say Rs. 7,50,000in F.Y. 2008-09. And it has filed its return before due date. But could not make payment of Rs.2500 for professional tax. What will be the amount which can be set off in the next F.Y. either Rs 750000 or 747500.
27 January 2010
It will be Rs. 747,500 as Rs. 2,500 will be disallowed under Sec. 43B.
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