Due date for return filing

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Harpreet singh (Querist)
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05 August 2014 an assessee who had incured loss in P.y 2013-14 failed to file return of income by 31 july and now he wants to carry forward his losses.so can he do so by getting his books audited.

so which date will be considered as due date u/s 139(1),as he is not liable to get his books audited but just to carry forward the loss he wants to get his books audited.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 August 2014 the ans is no as only if return is filed in due date then he can carry f/w the loss

for 13-14 for non tax audit purpose its 31.7.2014 was the last date

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Harpreet singh

Harpreet singh (Querist)
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05 August 2014 sir but if the assesee gets his books audited
at his will then can the losses be carried forward???

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 August 2014 if return is not filed on or before due date u/s 139(1) then only loss can be carried forward else not and even voluntary u conduct tax audit when its not applicable then also loss shall not be allowd to carried forward if return not filed in time

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Harpreet singh

Harpreet singh (Querist)
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06 August 2014 sir thanks a ton for your reply...

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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06 August 2014 you are welcome harpreet singh

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