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