Loss in FY 23-24 and ITR filing

Sir I have loss in FY 23-24, I able to to file ITR now ? I trying to file but system reject me. It is partnership firm. pls
Replies (5)
Quick Summary
This discussion addresses a partnership firm's inability to file its Income Tax Return (ITR) for FY 23-24 due to losses. According to Section 139(3) of the IT Act, losses from PGBP or CG cannot be declared and carried forward if the return isn't filed by the due date. The advice given is to adjust the losses to offset any available income, filing a NIL return if no losses need to be carried forward.

As per sec. 139(3) IT act, you cannot declare & carry forward loss in PGBP &/or CG, when return is not filed within due date.

 

Thanks Sir, now how file this ITR, pls

Adjust the loss upto the income that can be set off. Finally there should not be any loss that need to be carry forward.

If there is no other income which can be set off, then file NIL return.

Many Thanks Sir

You are welcome.                

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details