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Itr form for doctor's clinic (carry forward losses)

ITR 657 views 1 replies

Hello,

For a doctor who setup his own clinic in last financial year and have net losses due to the initial cost of setting up the clinic:

1) Which ITR form should be used?

2) Which section in the form should be used to declare the investment/income/losses

 

More Details are as follows: - Clinic setup with own (+spouse's) funds with investments of around 5 lakhs in May 2012 - Net profit till March 2013 is 1.2 Lakhs - So net loss is (5 - 1.2 = 3.8 laks) I believe this can be carry-forwarded to next years. Will these be speculative or non-speculative?

 

Any help will be much appreciated.

Thanks

Replies (1)

Use ITR IV (Professional)

The loss is non speculative

 

regards

 


CCI Pro

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