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
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Building and other construction workers welfare cess act 1996
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Form 10BD Filling
- Bank accounts of Non resident
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- 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
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
