Atul Upadhya (Director) (32 Points)
03 August 2011I have filed my returns in time for the year in which the losses occurred, showing the amount of loss that has been carried forward. However, I was late in filing my return in the subsequent years in which no short-term losses occurred. Am I entitled to carry forward the original short-term loss for 8 years?
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 03 August 2011
yes you can carry forward the lossess,, main thing is that you should file your return in time in the year in which loss is occured...
mounika
(semi qualified chartered accountant)
(981 Points)
Replied 03 August 2011
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 03 August 2011
| Originally posted by : Siddharth Bumb | ||
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yes you can carry forward the lossess,, main thing is that you should file your return in time in the year in which loss is occured... |
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AGREED.
Santhosh Poojary
(SIEMPRE AHÍ PARA TI)
(15607 Points)
Replied 04 August 2011
| Originally posted by : Siddharth Bumb | ||
|
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yes you can carry forward the lossess,, main thing is that you should file your return in time in the year in which loss is occured... |
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Agreed.
CA Devender Chauhan
(Group Financial Accountant)
(1526 Points)
Replied 04 August 2011
Agree with above views...
Sanat kumar
(Chartered Accountant)
(265 Points)
Replied 04 August 2011
You can carry forward the loss as the ROI was filed before the due date of the year in which the loss was occured.
Seetha
(B.Com, CA)
(278 Points)
Replied 04 August 2011
U SHOULD FILE THE RETURN IN TIME ONLY IN THAT A.Y. IN WHICH U WANT TO C/F THE LOSS.
THIS "ON TIME FILING" IS NOT APPLICABLE FOR SUBSEQUENT A.Y.'S
shubham
(CA FINAL NOW )
(138 Points)
Replied 04 August 2011
read section 139(3) "return of loss " - it says that current year loss can't be c\f unless the roi is submitted before due date but loss of ealier years can be c\f if the roi of that year (s) was submitted in the due date and such loss has been assessed.
so in ur case you can c\f the loss .
CA. Vikash Dwivedi
(Financial Planning & Analysis)
(3167 Points)
Replied 04 August 2011
yes you can take benefit of c/f
anshuman
(service)
(22 Points)
Replied 04 August 2011
nageswar
(Employee)
(58 Points)
Replied 18 August 2011
as per Section 139(3) IF YOU FILE THE RETURN WITHIN DUE DATE, YOUR ELIGIBEL FOR CLAIM THE CARRIFORWARD LOSS. Ohterwise cannot carriforward the short term loss
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 20 August 2011
Hey, You can surely carry forwaed the losses.
No need to Worry... Go on...
CAclubindia
