Set off and carry forward of loss
This query is : Open
22 October 2009
A Partnership firm is having accumulated loss to be carry forward and current year also the firm is having loss, but the return for current year is not filed with in the due date, so he is not eligible to carry forward the loss of current year, but is he eligible carry forward the accumulated loss?
23 October 2009
Yes , current yrs loss wont be allowed to be c/f . accumulated losses can be c/f
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