CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

143(1)(a)(ii) losses not adj current year income


prashant desai   10 August 2020

prashant desai

 3 likes  179 points

| My Other Post

dear team
plz suggest me what to do
I got notice u/s 143(1)(a)(ii) for

"losses of current year to be carried forward, is claimed but the original return us 139(1) is filed after due date or b/f losses not adjusted against current year income"
I already selected option "after due date" still got this error from tax dept.
how to respond to this query

avater

Sagar Patel (Tax and Business Consultant)     10 August 2020

Sagar Patel
Tax and Business Consultant 
 807 likes  8837 points

View Profile | My Other Post

The current year loss (except house property loss ) cannot be carried forward unless the income tax return is submitted before the due date but the loss of earlier years can be carried forward if the return of loss of that year(s) was submitted within the due date.

If you filed your return after due date than you can not carry forward current year loss except house property loss.

1 Like
avater

prashant desai   10 August 2020

prashant desai

 3 likes  179 points

View Profile | My Other Post

But how to revised this return
I already filled to used option "after due date" now this not applied for revised return

avater

Sagar Patel (Tax and Business Consultant)     10 August 2020

Sagar Patel
Tax and Business Consultant 
 807 likes  8837 points

View Profile | My Other Post

Return is related to which year..?
filed within due date or after due date..?

avater

prashant desai   10 August 2020

prashant desai

 3 likes  179 points

View Profile | My Other Post

FY 2018-19, after due date

avater

Sagar Patel (Tax and Business Consultant)     10 August 2020

Sagar Patel
Tax and Business Consultant 
 807 likes  8837 points

View Profile | My Other Post

You have any carry forward of loss for that year..?

As If you filed that return after due date than you can not carry forward that year loss except house property loss.

avater

prashant desai   10 August 2020

prashant desai

 3 likes  179 points

View Profile | My Other Post

Business loss showing for current year when I filled tax return, eben I choose "after due date" still it was shown in return as c/f loss in tax return.

now online notice it shows error!!
plz suggest how to respond to this notice or rectified this return

avater

Santosh jaiswal   10 August 2020

Santosh jaiswal

 9 likes  224 points

View Profile | My Other Post

Agree with sagar you can not adjust business loss because return is filed after due date

avater

Sagar Patel (Tax and Business Consultant)     10 August 2020

Sagar Patel
Tax and Business Consultant 
 807 likes  8837 points

View Profile | My Other Post

You can file rectification return if intimation u/s 143(1) is received by you. (Check online for this)

If intimation not received that you have to revise your return, with correct data and than Give reply for Notice received u/s 143(1)(a)(ii) online at income tax website with Acknowledgement number of revised return.

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Related Threads


Loading

Popular Discussion


view more »



Trending Tags
GST Live Class    |    x