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Revised loss Return with tax audit report this time

Others 363 views 2 replies

Anonymous

Business

240 Points Posted on 14 September 2018

filed ITR 3 loss return of future & option business without tax audit report in june month as total income less than 2.5 lacs , f&o loss is more than 7 lacs. Turnover less than 1 cr .
Now due to some doubts on applicability of tax audit can I revise return with tax audit report before 30th sept.
New business , never opt for presumtive.

What will be impact of filing ITR 3 loss return now along with tax audit report?

That returm was e verified but not processed by IT deptt till now.

Replies (2)

CA Raj Doshi

Practising CA

8954 Points Posted on 14 September 2018

Yes you can revise return and file taxaudit report.

The impact of filing will be positive. Your revised return will be placed in the same shoes of an original return.

Anonymous

Business

240 Points Posted on 12 October 2018

Thx .I have received intimation u/s 143 (1). Deptt issue refund order.
Do I still need to file tax audit report (tax audit due date now extend to 31st oct)
Will I face any trouble when I claim this loss in subsequent year profits ?
(CA said loss return can be filed without tax audit as turnover below 1 cr and total income less than 2.5 lacs )
Never opted 6 % presumptive scheme .

Regards