Mr. Ram has GTI of ₹ 1,20,000 for F.Y. 2020-21 and has deduction under chapter VI-A of ₹ 1,50,000. Loss to be carried forward by Mr. Ram for FY 2020-21 is –
A. Nil
B. 30,000
C. 1,50,000
D. 20,000
Answer:A
Mr. Ram has GTI of ₹ 1,20,000 for F.Y. 2020-21 and has deduction under chapter VI-A of ₹ 1,50,000. Loss to be carried forward by Mr. Ram for FY 2020-21 is –
A. Nil B. 30,000 C. 1,50,000 D. 20,000