For how many no. of years, losses of business mentioned in section 35AD can be carried forward? (Assessee has not opted for section 115BAC).

CS Executive · Tax Laws and Practice · PYQS · June 2021
For how many no. of years, losses of business mentioned in section 35AD can be carried forward? (Assessee has not opted for section 115BAC).
(A) Eight Years
(B) Four Years
(C) Seven Years
(D) No time limit

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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