Set off and carry forward
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 November 2012
Loss of Ay-2009-10= Rs10 lakh
It has to carried forward up to 8 Assessment years.
In Ay- 2010-11, while filling the return, it has been taken as carried forward business loss, but in Ay-2011-12, this unabsorbed loss has not been cosidered due to wrong ommission. In AS- 2012-13, assessee wants to carry forward the same for future years.
Whether it is possible for the assessee to carry forward such loss without filling a revised return for the AY-2011-12(i.e for previous assessment year in which loss should be considered, but have not considered)
Whether it is possible without a revise return
It has to carried forward up to 8 Assessment years.
In Ay- 2010-11, while filling the return, it has been taken as carried forward business loss, but in Ay-2011-12, this unabsorbed loss has not been cosidered due to wrong ommission. In AS- 2012-13, assessee wants to carry forward the same for future years.
Whether it is possible for the assessee to carry forward such loss without filling a revised return for the AY-2011-12(i.e for previous assessment year in which loss should be considered, but have not considered)
Whether it is possible without a revise return
28 November 2012
Hi
Only there is restriction in carry forward of current year loss, however you may file revised return.
Thanks//Vaibhav
Revert for more clarity.
Use thank button to convey your appreciation.
Only there is restriction in carry forward of current year loss, however you may file revised return.
Thanks//Vaibhav
Revert for more clarity.
Use thank button to convey your appreciation.
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