Section 75 of the Income Tax Act provides essential guidance on the treatment of losses in firms, particularly those incurred before April 1, 1993. This section, amended by the Finance…
The Income Tax Act provides various methods for setting off losses to ensure that taxpayers can reduce their overall taxable income. One such provision deals with the set-off of losses…
Managing your income tax liability efficiently is one of the keys to financial success. One of the most important provisions available to taxpayers is the ability to offset losses from…