Income tax return
Jithu p james (Article Assistant) (31 Points)
14 June 2016Jithu p james (Article Assistant) (31 Points)
14 June 2016
Anshul Mittal
(Freelancing)
(741 Points)
Replied 14 June 2016
Difference in intimation is not a big deal, and I think you know that pretty well.
Now, reasons for the Carry forward loss as per income tax are Unabsorbed Depriciation, Previous Year Losses, Losses relating to Capital Gains, etc.
Now, on to your question.
YES, you can set off that loss with the income in AY 2016-17, but make sure you do it as per the provisions of Income Tax Act.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 14 June 2016
to get eligible for carry forward loss, return must be filed within due date,
belated filing of ITR does not consider the unabsorbed losses
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