Loss must carry forward in subsequent years ?

NagarajanS (Others) (41 Points)

03 July 2014  

Hi Experts, 

Query - Is it mandatory to carry forward business loss from previous year ?

Last year I filed ITR-4 with 30K as business loss, this year also I am going to file ITR-4 with minimal loss (1K). My query is, is it mandatory to carry forward that 30K business loss from previous year to this year ? 

Thanks 

nagarajan