HIII FRIENDS
I WANT TO ASK THAT IF THE COMPANY IS LATE IN FILLING THE INCOME TAX RETURN THAN CAN IT CARRY FORWARD THE LOSS BROUGHT FORWARD OF PREVIOUS YEAR OTHER THAN THE CURRENT YEAR.
PLEASE HELP ME IN THIS MATTER
THANKING YOU
HARSH
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Query in income tax return of companies
Replies (1)
Dear,
As per my knowledge company can brought forward last year's loss to current year if company is filed return in time i.e. u/s 139(1), but company cannot carry forward current year's loss to next year because company is not filed return as per section 139(1)
Thank You
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