Regarding Carry forward of business loss
This query is : Resolved
22 November 2025
there is any clause in tax audit report to report current year loss brought forward to next year?
22 November 2025
Yes. In the Tax Audit Report (Form 3CD), Clause 32 specifically deals with reporting of brought forward losses and depreciation, including current year losses eligible to be carried forward.
22 November 2025
Form 3CD – Clause 32
• This clause requires the tax auditor to state details of losses or depreciation that are to be carried forward under the Income-tax Act.
• It covers both past losses brought forward and current year losses that will be carried forward to subsequent years.
• The auditor must report whether the assessee has properly complied with provisions relating to carry forward of losses (like filing returns within due dates under section 139(3)).
• Breakdown of Clause 32 Reporting
• 32(a): Details of brought forward losses/depreciation from earlier years.
• 32(b): Whether the return of income for the year in which loss was incurred was filed within the prescribed time (important for eligibility to carry forward).
• 32(c): Losses/depreciation to be carried forward to the next year.
• 32(d): Whether the assessee has properly disclosed and complied with provisions for carry forward.
• This clause requires the tax auditor to state details of losses or depreciation that are to be carried forward under the Income-tax Act.
• It covers both past losses brought forward and current year losses that will be carried forward to subsequent years.
• The auditor must report whether the assessee has properly complied with provisions relating to carry forward of losses (like filing returns within due dates under section 139(3)).
• Breakdown of Clause 32 Reporting
• 32(a): Details of brought forward losses/depreciation from earlier years.
• 32(b): Whether the return of income for the year in which loss was incurred was filed within the prescribed time (important for eligibility to carry forward).
• 32(c): Losses/depreciation to be carried forward to the next year.
• 32(d): Whether the assessee has properly disclosed and complied with provisions for carry forward.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR 2 Short Term gain & Long term gain
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
