Loss incurred by llp firm and share of this loss has been trfd to partners

K P BHANUSHALI (PROPRIETOR) (512 Points)

03 October 2018  

Friends,

I am having one more problem as such related to LLP Firms.

This time, LLP firm has incurred Total loss of Rs.50 Lacs & Trfd Rs.10 Lacs to one of my client who is having his another Proprietory firm and has earned Business profit of Rs. 3  Lacs.

Both these businesses are of non-speculative nature and normal kind of businesses.

Now, as LLP can carry forward loss to further 8 years, Can I now adjuest the LLP Loss towards Prop Co. Income ?

T & R

K P Bhanushali