Business loss setoff
Arikeri Venkataraju (31 Points)
30 November 2020
Business loss arise First time, but Business loss set off from Long term capital Gains
3 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 30 November 2020
Yes!! Setoff from the next years capital gains
ayusmita
(Tax consultant)
(5885 Points)
Replied 30 November 2020
You can setoff next year
it will carry forward to 8 yr after that if it is unutilized then written off
it will carry forward to 8 yr after that if it is unutilized then written off
Shivam RC
(Student)
(23683 Points)
Replied 30 November 2020
Losses under the head Profits and Gains from Business or Profession ( PGBP ) can be set off from Capital Gains. Also the Non Speculative Business Loss can be carried forward for 8 years provided the return is being filed within the due date...
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