C/f loss
This query is : Resolved
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?
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Average Cost Of High Quality Diamonds
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Banking Related Issue
- TAX AUDIT QUESTION
- Difff in ais receipts and gst turnover
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
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
