Simplified Laws Guide to Taxation and Legal Concern Income includes ‘loss’ and all loss can’t be adjusted against income. The Income-Tax Act, 1961, allows set-off and carry-forward of the loss incurred by any assessee subject to some restrictions. Here is a quiz to test your knowledge on set off and carry forward of losses.
[mtouchquiz id=2 startscreen=’off’ showanswers=’end’ multiplechances=’off’]Please follow and like us:
Interesting sir. I got 4 out off 6 🙂
[…] of income as well as carry forward of loss to the subsequent years. In our earlier quiz ‘Test your knowledge on Set Off and Carry forward of Losses‘, you have tested your knowledge on setoff of loss in the same year. This quiz is for testing […]