115BAC not granted
This query is : Resolved
Quick Summary
10 January 2024
I am salaried person opted for 115BAC while submitting return, however i received 143(1) notice not granting 115BAC and I received demand of 87k.
I showed 303k loss in equity but it is showing as business loss in return file.
please guide
I showed 303k loss in equity but it is showing as business loss in return file.
please guide
CA R SEETHARAMAN
(Expert)
11 January 2024
You should have shown it under short term/long term capital loss under capital gains schedule.
11 January 2024
Thanks !
what is the way forward, can I file corrected return again? is this possible ? can CA will able to help in this?
what is the way forward, can I file corrected return again? is this possible ? can CA will able to help in this?
CA R SEETHARAMAN
(Expert)
11 January 2024
Time to file corrected return is over by 31st December 2023. You have to pay the taxes
11 January 2024
but I received 143(1) notice yesterday.i.e 10/01/24 , can i submit corrected return in response to notice, is this possible?
CA R SEETHARAMAN
(Expert)
12 January 2024
Not possible now...
....
....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- GSTR-9C filing
- Import Order Cancelled.
- Form 144 TDS Return Validation Error – Mandatory Fields
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Royalty payments to the Mining Department for procurement of murum - GST input
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
