IS BUSINESS LOSS OF A PROPRIETORSHIP CONCERN CAN BE CARRY FORWARDED ?
4 Replies
CA Akshay Kumar Mishra
(Chartered Accountant )
(1784 Points)
Replied 17 January 2011
yes , BUSINESS LOSS OF A PROPRIETORSHIP CONCERN CAN BE CARRY FORWARded
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 17 January 2011
as there is no provision for reserve in proprietory business, so the losses would go to capital account. however it would get carried forward in tax returns for adjustment in forthcoming years.
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