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Difference in carry forward losses as computed u/s 143(1) and by the taxpayer

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Amshumali Sharman

66 Points Posted on 30 August 2024

ITR filed for one person has been processed with no demand/refund. Carry forward losses calculated by tax department is significantly lower than calculated by taxpayer. C/f loss as provided by taxpayer is more than 1 crore, while c/f loss as per IT department is only around 55 lakhs. How to find out the discrepancy. C/f losses included loss in sale of foreign shares as well. Is it rejected? Please let me know how to resolve this issue?

Replies (3)

Quick Summary

A taxpayer has noticed a significant difference between their calculated carried forward losses and the amount processed by the IT department under Section 143(1). The IT department's figure is substantially lower, potentially impacting future tax filings. The discussion aims to identify the cause of this discrepancy, which may involve disallowed losses (e.g., from foreign shares or late-filed years) or mismatches from previous intimations. It is advised to check the Schedule CFL in the intimation and file a rectification under Section 154 if an error is found, as the processed figure will be used for future assessments.

Pranav Aggarwal

311 Points Posted on 03 September 2024

Refer intimation recieved u/s 143(1)

Aashok Kumar Sharma

Finance/Compliance Consultant

75663 Points Posted on 08 November 2026

CPC's carried-forward loss differs from yours:
• If the 143(1) intimation shows a different carried-forward loss than your ITR, the CPC may have disallowed part (e.g. a late-filed loss year, or a mismatch in the brought-forward loss from earlier intimations).
• Check the intimation's computation (Schedule CFL as processed). If wrong, file rectification under Sec 154 (online, "Status correction" or "Return data correction"), with the correct figures and the earlier years' intimations.
• For future years, the CPC uses the processed figure. So correct it promptly.

Aashok Kumar Sharma

Finance/Compliance Consultant

75663 Points Posted on 08 November 2026

CPC's carried-forward loss differs from yours:

• If the 143(1) intimation shows a different carried-forward loss than your ITR, the CPC may have disallowed part (e.g. a late-filed loss year, or a mismatch in the brought-forward loss from earlier intimations).

• Check the intimation's computation (Schedule CFL as processed). If wrong, file rectification under Sec 154 (online, "Status correction" or "Return data correction"), with the correct figures and the earlier years' intimations.

• For future years, the CPC uses the processed figure. So correct it promptly.