Brothers & Sisters warm greetings there, I have a query and went through web many people have same query but answer was little technical (Just like acts of our IT), I hope our club will be the one to answer and clarify in layman language.
For bussiness any losses suffered in previous years for which ITR was not filed what is the rememdy to file such returns in current fy and carryforward such losses.
Example : Business loss of FY 2011-12, 12-13, 13-14, for which ITR was not filed , can one file those previous year ITR and carry forward business losses in CY say 2014-2015 .
If yes then how, hope rest all will be understood as all are from same background.
Experts give your valuable responses.
CAclubindia
