Mathur Storage (P) Ltd. engaged in chain cold storage has brought forward business loss of ₹ 12 lakhs relating to assessment year 2016-17. During the previous year 2016-17, its income from the said business is ₹ 9 lakhs.
CS Executive · Tax Laws and Practice · PYQS · June 2017
Mathur Storage (P) Ltd. engaged in chain cold storage has brought forward business loss of ₹ 12 lakhs relating to assessment year 2016-17. During the previous year 2016-17, its income from the said business is ₹ 9 lakhs. It also has profit from trade in food grains of ₹ 6 lakhs. The total income of the company for the assessment year 2017-18 is:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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