Loss of LLP on dissolution, Income Tax

[bhagyashree sathe]

One LLP incurring business loss of about 8 to 10 Lakhs of Rs, is being wound up.

Will this business loss be allowed to set off in the hands partners[ designated and others] agianst their business income?

Orelse could this be allowed as loss on account of investment in LLP?

Seeking for sections/rules under Income tax Act, opinion or article if any.

Posts / Replies

[Vivek Harsh]

 

In my view loss shall not be allowed in hands of partners.