dear scholers. plz guide..
.I filled last year return Itr4 and claimed loss as the business was newly setup..now as business growing the turnover reached to above 10 lakh for march ending 2017.. now I want to know can I claim my loss by filling itr under presumptive basis..ie. itr4s..
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Income tax
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DIER SIR,
PARTNERSHIP FIRM NIR PAID TO INTEREST & REMUNERATION TO TDS LIABLITY A.Y. 2017-18
DIER SIR,
@ Rahul Jain: "now I want to know can I claim my loss by filling itr under presumptive basis..ie. itr4s.. "
Yes, under presumptive basis for this year; but by filing ITR 3; as ITR 4 do not contain 'Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years.'
you need to file ITR 3 ( earlier ITR 4) to set off brought forward losses. losses cannot be set off under presumptive scheme
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