Hello Friends,
I wana to know weather Business Loss of current year can be set off with income from other heads of income even if the return is not filled within the due date of return filling under section 139(1)
2 Replies
RAKESH
(Almost CA)
(2199 Points)
Replied 02 September 2010
ya it can be set off against any head except salaries. The question of due date comes only when there is need to carry forward the loss and that loss if u wana adjust in the subsequent months can be adjusted only and only if the return has been filed within the due date of filing of return U/s. 139 (1)
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 02 September 2010
fully agreed with rakesh.....
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