Updated return & Brought forward losses
This query is : Resolved
14 May 2023
Dear Sir / Madam,
My query is as follows:
The updated return of Mr A for AY 2021-22 was filed after the original return for AY 2022-23.
In updated return for AY 2021-22, the long term capital loss reduced from Rs. 83000/- to Rs 55000/- and he paid the additional liability afterwards.
However, since the original return for AY 2022-23 was filed BEFORE this updated return, the brought forward long term capital loss was shown as Rs. 83000/- & claimed.
Now the updated return for AY 2022-23 is required to be filed with revised brought forward long term capital loss of Rs. 55000/-.
So, under brought forward losses section of AY 2022-23 return, which date of return for AY 2021-22 to be mentioned for claiming the losses? date of original return of AY 2021-22 or date of updated return?? I am bit confused.
I hope my query is clear.
Kindly revert.
Thanks & Regards,
Suraj
My query is as follows:
The updated return of Mr A for AY 2021-22 was filed after the original return for AY 2022-23.
In updated return for AY 2021-22, the long term capital loss reduced from Rs. 83000/- to Rs 55000/- and he paid the additional liability afterwards.
However, since the original return for AY 2022-23 was filed BEFORE this updated return, the brought forward long term capital loss was shown as Rs. 83000/- & claimed.
Now the updated return for AY 2022-23 is required to be filed with revised brought forward long term capital loss of Rs. 55000/-.
So, under brought forward losses section of AY 2022-23 return, which date of return for AY 2021-22 to be mentioned for claiming the losses? date of original return of AY 2021-22 or date of updated return?? I am bit confused.
I hope my query is clear.
Kindly revert.
Thanks & Regards,
Suraj
14 May 2023
Date of original return has to be mentioned for carry forward of loss.
Message likes :
1 times
21 May 2023
Thank you so much Sir.
Date of original return with revised loss figure i.e. 55000/-, am I right sir??
Date of original return with revised loss figure i.e. 55000/-, am I right sir??
21 May 2023
Yes you are right....
...
...
Message likes :
1 times
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
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Subscription paid to foreign customer
- 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
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
