Tax Book 2023

Losses Chapter- 14

(a) business loss

(b) unabsorbed depreciation

(c) unabsorbed amortization

(d) both ‘b’ and ‘c’.

Q.30 The share of losses representing the retired or deceased partner ____ be set off by the AOP.

(a) can

(b) cannot

(c) none of above

Q.31 Losses of inherited business can be set off and carried forward by any taxpayer (excluding __).

(a) minor

(b) deceased person

(c) salaried person

(d) all of above

ANSWERS

1 (b) 2 (c) 3 (a) 4 (a) 5 (a)

6 (d) 7 (a) 8 (d) 9 (b) 10 (d)

11 (c) 12 (b) 13 (a) 14 (a) 15 (d)

16 (a) 17 (c) 18 (a) 19 (a) 20 (b)

21 (b) 22 (a) 23 (a) 24 (b) 25 (c)

26 (d) 27 (b) 28 (a) 29 (d) 30 (b)

31 (a)