provisions of carry forward Business losses

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2010 my client(individual) has a business loss of rs.5207,can the business loss be carried forward while due date:31-07-2009?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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11 January 2010 If the business loss is in respect of earlier periods in respect of which return has been filed on time then loss is allowed to be carried forward upto 8 years. If the loss return filed after due date loss cannot be carried forward

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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11 January 2010 agree with expert if you have not filling your return in time then you can not carry forward your business losses for that you need to file before due date.

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