Let-out house property loss carry forward

Save Share

This query is : Resolved

Quick Summary

A taxpayer filed their return for FY 2021-22, reporting a let-out house property loss. While they correctly set off a portion, the tax intimation showed zero loss carried forward. After an online rectification request, the issue persisted. Advice suggests the taxpayer's understanding of carry forward is correct but needs verification with CPC for ITR filing errors and potentially filing an appeal with CIT.

Abhi

Abhi (Querist)
Follow

20 January 2023 Namaskar,

For FY 2021-22:

- Return filed on 28-Jul-22 (before due date).
- Let-out house property loss 2,47,311.
- Automatic set off 2,00,000.
- Loss to be carried forward 47,311.
- In intimation, carry forward loss is showing 0.
- Raised an online rectification request yesterday to reprocess and it got reprocessed within minutes but even after that it is still 0.

As far as I know, I should be able to carry forward this loss. Am I not correct in my understanding? What should I do to get it corrected?

Thanking you in anticipation.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

20 January 2023 You are not correct in your understanding, such carry forward will be indicated in the intimation.
Contact CPC to know, is there any error in filling ITR.
Also file appeal with CIT.

Abhi

Abhi (Querist)
Follow

02 February 2023 Thank you so much for your guidance, Sir. Much appreciated!

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

02 February 2023 You are welcome..
....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now