Hello Friends
I want to know the provision of Section 157 of the Income-Tax Act , 1961.
e.n.ananthanarayanan
e.n.ananthanarayanan (Audit Manager and currently pu) (108 Points)
27 June 2010Hello Friends
I want to know the provision of Section 157 of the Income-Tax Act , 1961.
e.n.ananthanarayanan
CA.Swathi Jain
(CA )
(155 Points)
Replied 27 June 2010
Section 157 talks about 'INTIMATION OF LOSS'
It says in the course of assessment of total income if it is established by the assessing officer that a loss has taken place which the assessee is entitled to carry forward, the assessing officer shall notify the assessee the loss amount in writing.
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