What is the amount of losses which can be carried forward to A.Y. 2022-23, assuming that business income is ₹ 45,00,000 and income from profession is ₹ 25,00,000 for the P.Y. 2020-21?
A. ₹ 7,80,000 under section 74
B. ₹ 70,00,000 under section 73
C. ₹ 30,000 under section 74
D. ₹ 30,000 under section 74 and ₹ 70,00,000 under section 73
Answer:C
What is the amount of losses which can be carried forward to A.Y. 2022-23, assuming that business income is ₹ 45,00,000 and income from profession is ₹ 25,00,000 for the P.Y. 2020-21?
A. ₹ 7,80,000 under section 74 B. ₹ 70,00,000 under section 73 C. ₹ 30,000 under section 74 D. ₹ 30,000 under section 74 and ₹ 70,00,000 under section 73