Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Carry forward of business loss allows set off against future business profits, subject to time limits and priority rules. Carry forward and set off of business loss permits an unabsorbed business loss (excluding loss from speculation business) to be carried into subsequent ... Summary
Carry forward of business loss allows set off against future business profits, subject to time limits and priority rules.
Carry forward and set off of business loss permits an unabsorbed business loss (excluding loss from speculation business) to be carried into subsequent tax years and set off only against profits and gains of business or profession of the taxpayer for those years, subject to a prescribed limited period and a priority rule requiring such loss to be set off before certain carried forward allowances.
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