In form 3CD, clause 32 (a), we need to provide details of the last years brought Forward losses, which we want to set off against current year's appropriate head of income. We need to write FY and the" Amount as assessed (give
reference to relevant order)". My query is can we claim the set off of brought forward losses even if the assessment is not done yet?
Self-Assessment is also an Assessment. For earlier years, we compute the income or loss, as the case may be, on self-assessment basis and file the return. Hence, Returned Loss is also an Assessed Loss. Hence, in my opinion, you can claim the set-off of brounght forward losses even if the assessment (by AO) is not done yet
O P Bagla & Co LLP
New Delhi
CA Inter
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SKAA & Associates
New Delhi
CA Inter
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