Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>Losses from specified businesses under Sec. 46 can only offset profits from similar businesses; carry forward if unabsorbed.</h1> Losses from a specified business can only be set off against profits and gains from another specified business within the same tax year. If there are unabsorbed losses, they can be carried forward to subsequent tax years and set off against profits from specified businesses in those years. 'Specified business' refers to businesses identified in section 46, and 'unabsorbed loss' is any loss from a specified business that has not been fully set off within the same tax year.