Dear All,
I wish to understand what exactly is meant by cessation? Does it require closing down of the entity such as dissolution of if i havent engaged in the operation or not earned revenues in quite some time, i can claim the same to be cessation?
Moreover, after surrendering if I again earn revenues, can i claim teh basic exemption limit of 10 lakhs once again?
Your guidance on the same will be highly appreciated.
Thank you!
Regards,
Samiksha Jain
CAclubindia
