It return

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naresh (Querist)
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31 July 2014 dear sir,
FY 2012-13 we showed profit U/s 44AD * return filled in time. FY 2013-14 there is loss. We are not going as per U/s 44AD. My question is if we filled return after 31st July 2014 our loss will be carry forward to next year ? secondly If there is loss FY 2013-14 any change to get our file to be open for scrutiny. because we change our method of accounting.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 July 2014 1. no , loss will not be allowed to be c/f
2.taht cant say it depends on the itd.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 August 2014 1. given that you have a loss, you have to get the accounts audited.

2. Once the audit is triggered the due date shall be 30 September 2014.

So you can still file the return and carry forward the losses.

3. scrutiny as Tushar said, depends on the tax department. No one can predict.