Unrelieved losses of a company may be carried forward:
AFor four years only
BIndefinitely, against profits of the same tradeCORRECT
CAgainst any income of the company for two years
DOnly if the company changes its accounting date
ICANTaxationCompanies Income Tax: Computation and Losses2023
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Why the answer is B, and why the others tempt you.
Losses are relieved against future profits of the same trade or business and may be carried forward indefinitely. They cannot be set against profits of a different trade carried on by the same company.
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