Revised Return of Belated Return.

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A query regarding a belated return filed for AY 19-20 where a current year loss was mistakenly shown as carried forward. An intimation under Section 143(1)(a) has been received, requesting a revised return. The discussion clarifies that since the original return was belated, the current year's loss cannot be carried forward. Guidance is sought on how to correct this in the revised return.

AviGan

AviGan (Querist)

24 February 2020 Sir/Madam
Kindly provide guidance
For AY 19-20 a belated returned was filed. By mistake loss of current year was shown as carried forward loss.
Intimation under Section 143(1)(a) has been issued requiring a revised return to be filed.How can loss of current year be shown in revised return so that it is not carried forward.
Thanking you in advance.

Shrikant Toshniwal

Shrikant Toshniwal (Expert)

25 February 2020 Dear frd, As u not filed return in due time u can't carry forward current year loss but it doesn't means that u can not revised the return . u can fill revised the return till mar 20

Eswar Reddy S

Eswar Reddy S (Expert)

29 February 2020 Return of loss should be filed on time to carry forward.Since it is belated return, loss can't be carried forward. Kindly check the reason for 143(1)(a)-