Carry forward of business loss

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 December 2015 Since last 4 years, In my mother's account, there is a carry forward loss from Share trading activity which is shown as business loss. I want to know that in case of inheritance, can i get the balance number of years to carry forward those losses or not ?

Is there any other way, like showing acquisition of business, I get such benefit in her absence ?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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31 December 2015 As per Section 78(2) losses can not be c/fd if the succession is otherwise than by inheritance. Conversely, if succession is by inheritance, losses can be c/fd by the successor. So you are eligible.