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
Specified business loss set-off limited to profits of other specified businesses; carryforward allowed only against specified business profits. Losses from a specified business may be set off only against profits and gains of other specified businesses in the same tax year; any unabsorbed loss is ... Summary
Specified business loss set-off limited to profits of other specified businesses; carryforward allowed only against specified business profits.
Losses from a specified business may be set off only against profits and gains of other specified businesses in the same tax year; any unabsorbed loss is carried forward and in subsequent years may similarly be set off only against profits and gains of specified businesses. "Unabsorbed loss from the specified business" means a computed loss from a specified business not wholly set off under the intra-category rule for that tax year.
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