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Sett-off against 44ad

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(Querist)
13 May 2012 Can business loss set-off against presumtive income 44AD
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
13 May 2012 In case an eligible assessee is having brought forward non speculation business losses pertaining to earlier assessment years, he can set off such losses against presumptive business income U/s 44AD of the current AY.
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piyush goplani

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piyush goplani (Expert)
13 May 2012 Yes the assessee can set off the lossess against income declare u/s 44AD, provided the conditions of Sec 72 are satisfied

Regards:
CA Piyush Goplani
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