28 September 2010
I AM ACCOUNTANT IN A PVT LTD COMPANY & COMPANY HAD 50,000/- LOSS IN LAST YEAR BUT IN AY 2010-11 COMPANY HAVE 9,50,000/- PROFIT. CAN I SET OFF 50,000/- LOSSES WITH THIS PROFIT. WHICH IS THE TAXABLE INCOME 1) 9,50,000 - 50,000 = 9,00,000 2) 9,50,000
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