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Specified business

nidhi (student) (346 Points)

07 October 2014

for how many years can the loss of specified business under section 35AD be carried forward?

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Santhosh Poojary (SIEMPRE AHÍ PARA TI) (15607 Points)
Replied 07 October 2014

Loss from specified business u/s 35AD can be carried forward for any number of years untill it is fully set-off...But such loss can be set-off only against Income from any other specified business.

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nidhi (student) (346 Points)
Replied 07 October 2014

Thanks ....

*RENU SINGH * (✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ ) (21627 Points)
Replied 07 October 2014

Loss of specified business of section 35AD can be set off against current year and future years only against the profit of any specified business referred in section 35 AD and can be carried fwd for indefinitely period.

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