banner_ad

F&o business loss not carry forward for set-off

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
27 December 2013 An assesse has filed ITR-4 and accounted for F&O (Derivative) business loss in the ITR-4 for A/Y 2012-13. Thereafter the assesse has filed ITR-2 for A/Y 2013-14 and not accounted for F&O (Derivative) business loss in the ITR, as ITR-2 is for income not having Business Income.

Refunds for A/Y 2012-13 & 2013-14 have also been received on rest of the incomes, as filed. Now, whether ITR for A/y 2013-14 can be filed revised ITR-4 or rectification be done.

Pls. advice for taking action, if it can be.

Pls suggest the way how to carry forward and take advantage of set off in future

Thanks in advance
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
27 December 2013 even if you file revise return or rectification you will not get carry forward of F & O loss or set off of the same. So no use of the same in view of section 44AD. However if you get ur accounts audited and then file revise return then you may have a chance.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details