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Carry Forward of Losess of Business

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 May 2011 Whether it is mandatory to show and carry forward lossess incurred in previous year in share/derivative/commodity trading, while filing ITR Return. If one does not wish to show the same in ITR whether there is any clause of penalty
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Nayan Das

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Nayan Das (Expert)
09 May 2011 NO PENALTY. BUT YOU CAN NOT PROVIDE NEXT FOLLOWING YEAR YOUR BUSINESS LOSSES
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CA. Krishna K Neeraj

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CA. Krishna K Neeraj (Expert)
09 May 2011 There is no penalty for not showing the same in ITR however you may not get benefits of brought forward losses in next previous year.
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