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Income tax return
our return and 143(1) intimation is not matched for AY 2015-16. As per intimation there is carry forward loss 28000/- but as per our return there is no carry forward loss...can we set off that loss in ay 2016-17
Replies (4)
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.
to get eligible for carry forward loss, return must be filed within due date,
belated filing of ITR does not consider the unabsorbed losses
thank u for ur support
Sir,Thank you for your support
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