Kamal has eligible brought forward business loss relating to assessment year 2016-17 of ₹70,000. For the previous year 2018-19 he has (i) loss from house property ₹3,10,000; (ii) loss from business ₹90,000; and (iii) los
CS Executive · Tax Laws and Practice · PYQS · December 2019
Kamal has eligible brought forward business loss relating to assessment year 2016-17 of ₹70,000. For the previous year 2018-19 he has (i) loss from house property ₹3,10,000; (ii) loss from business ₹90,000; and (iii) loss under the head 'other sources' ₹1,00,000. He filed the return of income for the assessment year 2019-20 on 5-9-2019 which is beyond the 'due date' specified in section 139(1). State the losses which are eligible for carry forward for assessment year 2020-21.
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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