C/f loss
This query is : Resolved
BHATT BHAGYASHREE B.
(Querist)
10 January 2013
If the Business Loss of assessee in F.Y. 10-11 is 15000. He has filled return in time. So, such loss can be c/f. But, if he failed to filled return in time in F.Y. 11-12 & the loss of F.Y. 10-11 is still unadjusted. So, same can be c/f in F.Y. 11-12 even if F.Y. 11-12 return is not in time?
CA Neha Chauhan
(Expert)
10 January 2013
Dear Bhagyashree,
He can c/f the loss of F.Y 10-11 to F.Y:11-12 and can set off the same in F.Y: 11-12...as the condition for c/f and set off of loss is that return must be filed within specified due date u/s 139(1) in case of loss year..and not of Set off year...as in your case return for F.Y: 2010-11 is filed in due date you can set off the same in F.Y: 2011-12.
Regards,
Neha Chauhan
He can c/f the loss of F.Y 10-11 to F.Y:11-12 and can set off the same in F.Y: 11-12...as the condition for c/f and set off of loss is that return must be filed within specified due date u/s 139(1) in case of loss year..and not of Set off year...as in your case return for F.Y: 2010-11 is filed in due date you can set off the same in F.Y: 2011-12.
Regards,
Neha Chauhan
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- Tax on Amount transferred in HUF Account
- ETDS return q4 25-26
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- 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
- Sales of goods of amount Rs97 lakhs to a party
- 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?
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
