HELLO
AS PER INCOME TAX ACT WE SHALL NOT BE CARRIED FORWARD BUSINESS LOSS IF ITR HAS FURNISHED AFTER DUE DATE.
WHILE CALCULATE MAT WHAT BUSINESS LOSS ALSO NOT CONSIDERED IF PREVIOUS YEARS RETURN HAS FURNISHED AFTER DUE DATE?
Menu
MAT
Replies (3)
in my opinion the business loss that can not be claimed under normal provisions can also not be claimed under the provisions of MAT. The belated rerturn section does not allow carry forward of losses if return is not submitted in due time and it is applicable to MAT provisions as well
You have to make adjustment of loss brought forward or unabsorbed depreciation whichever is less as per book of account of the assessee-company to arrive at the” Book-Profit” u/s.115JB. It has nothing to do with late filing of ROI for loss
i agree with Mr. Ashok.
Recent Topics :
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
Related Topics :
CAclubindia
