Regarding carry forward losses
This query is : Resolved
19 January 2023
In one of our cases there was carry forward losses of Rs. 7766600 till assessment year 2016-2017.
The bifurcation is as follows:-
Assessment Year Losses
15-16 2823050
16-17 4943550
Total 7766000
The same losses has reflected in my above Return of Income tax till assessment year 2016-17. While submitting the ITR for A.Y 2017-18 by mistake the above carry forward losses were not considered, the loss of A.Y 2017-18 was only considered and carried forward.
This has continued till assessment Year 2022-23 the carry forward losses of Rs. 7766000 is duly reflected in the ITR and disclosed to income tax till A.Y 2016-17. Sir, how can I deal with the above issue that arose due to clerical error, so that the above assessee would be entitled and take the set off of above losses Rs. 7766000.
I would like to mention that this was audit case cover under section 44 AB and even every year the audit report and ITR is submitted in due dates.
The bifurcation is as follows:-
Assessment Year Losses
15-16 2823050
16-17 4943550
Total 7766000
The same losses has reflected in my above Return of Income tax till assessment year 2016-17. While submitting the ITR for A.Y 2017-18 by mistake the above carry forward losses were not considered, the loss of A.Y 2017-18 was only considered and carried forward.
This has continued till assessment Year 2022-23 the carry forward losses of Rs. 7766000 is duly reflected in the ITR and disclosed to income tax till A.Y 2016-17. Sir, how can I deal with the above issue that arose due to clerical error, so that the above assessee would be entitled and take the set off of above losses Rs. 7766000.
I would like to mention that this was audit case cover under section 44 AB and even every year the audit report and ITR is submitted in due dates.
20 January 2023
No remedy for such clerical errors.
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