Filing of tax audit accounts...

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Rajesh (Querist)
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23 October 2010 Dear Experts,
I have a doubt...pls clarify me...
Suppose i have prepared the tax audit report Form 3CB and Form 3CD before the time limit u/s 139 but did not file the accounts with the income tax website (Eg. ITR-IV) within the time limit u/s 139. Still can we carry forward the business loss?
Thanks & Regards,
Rajesh.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 October 2010 139(3) does not allow the assessee to carry forward the loss for Income tax purpose.

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CA Punit

CA Punit (Expert)
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23 October 2010 Reasonable delay in filing return can be condoned by AO/CDBT on showing sufficient cause.......

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taxindiaconnect

taxindiaconnect (Expert)
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23 October 2010 BC Sir is right in his interpretation

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Mayur Agrawal

Mayur Agrawal (Expert)
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24 October 2010 agreed with warrier ji ......... loss can not be c/f under IT a

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