Carry forward of business loss
This query is : Resolved
13 January 2014
can a company carry forward its previous year business losses in case in current year it fails to file its return u/s 139(1) due date?
13 January 2014
Not able to carry forward the losses under various heads: you are not able to carry forward following type of losses if file return after due date
• Speculation loss
business loss excluding loss due to unabsorbed depreciation and capital exp on scientific research
• short term capital loss
• long term capital loss
• loss due to owning and maint. of horse races
However there is no impact on following type of losses even if return is furnished after the due date
• loss from house property
• business loss on account of unabsorbed depreciation and capital expenditure on scientific research.
• Speculation loss
business loss excluding loss due to unabsorbed depreciation and capital exp on scientific research
• short term capital loss
• long term capital loss
• loss due to owning and maint. of horse races
However there is no impact on following type of losses even if return is furnished after the due date
• loss from house property
• business loss on account of unabsorbed depreciation and capital expenditure on scientific research.
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- LIABILITY ADJUSTMENT
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- 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
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
