Business loss of pvt limited co can be carried forward ?
This query is : Resolved
jayesh shah
(Querist)
04 June 2015
Sir
I have filed return of Income of Pvt limited Co ( NO TAX AUDIT ) for A Y 2014-2015 on 30-11-2014 claimed loss of Rs.400,000/- Dept has rejeced claim of c/F loss saying that you have filed return of income not on due date which was 30-9-2014. i have argued thast due date was 30-11-2014. ITO replied that due date was extended only for those company having TAX AUDIT REPORT IS REQIRED TO BE SUBMITED.IN YOUR CASE DUE DATE WAS 30-9-2014 . IS ITO CORRECT? SHOUD I GO TO IN APPEAL?
PLEASE CLARIFY.
I have filed return of Income of Pvt limited Co ( NO TAX AUDIT ) for A Y 2014-2015 on 30-11-2014 claimed loss of Rs.400,000/- Dept has rejeced claim of c/F loss saying that you have filed return of income not on due date which was 30-9-2014. i have argued thast due date was 30-11-2014. ITO replied that due date was extended only for those company having TAX AUDIT REPORT IS REQIRED TO BE SUBMITED.IN YOUR CASE DUE DATE WAS 30-9-2014 . IS ITO CORRECT? SHOUD I GO TO IN APPEAL?
PLEASE CLARIFY.
Nikhil Kaushik
(Expert)
04 June 2015
department is correct.....please check the notification for extension of due date...30/11/2014 was only for tax audit cases.
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