Yamini Swarnalatha (Chartered Accountant) (112 Points)
28 September 2011Dear All,
a company is eligible for claiming exemption u/s 10A (it had claimed the exemption in AY-2010-11); it has incurred business & capital losses in the AY-2011-12; is it eligible to carry forward the losses for set off in future? anyhow the exemption in not applicable w.e.f. 1.4.2011
kindly clarify at the earliest so that I may file the Return before 30th sep 2011
Jayesh
(Internal Auditor)
(214 Points)
Replied 28 September 2011
Dear Yamini,
yes lossescan be carried forward for set off in future, provided return is filed before the due date.
CAclubindia
