set off
Sunil Ahmad (Student) (1511 Points)
24 March 2018
Can we set off losses by skipping one previous year ??
7 Replies
Sunil Ahmad
(Student)
(1511 Points)
Replied 24 March 2018
If there is any loss from house property during the P.Y.16-17 and that loss carried for next year P.Y.18-19(even there is income from HP during the P.Y.17-18) , without setting off during P.Y.17-18 . Can we set off loss during the P.Y.18-19 ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177886 Points)
Replied 25 March 2018
No, not possible.......
Example......... loss c/f.......... -10000/- say
PY profit before set off........ +4000/-
So what will be net effect (income) from IFHP of PY......... Just -6000/- or (+4000 & -10000) two different figures?.....
Sunil Ahmad
(Student)
(1511 Points)
Replied 25 March 2018
Ok Sir I understood, Is it compulsory to setoff loss from profit during the P.Y. OR can c/f that loss for next P.Y. for next yr without setting off (wholly) during the P.Y
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177886 Points)
Replied 25 March 2018
Same head........ mandatory to set off...........
If set off against other head, can be postponed........
Recent Topics
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
- Client Asking for the Revised Invoice
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- GST registration for medical shop in Karnataka
Related Threads
CAclubindia
