banner_ad

Carry forward of business loss

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 July 2013 Sir/Madam,

Eg: 1.Firm 'X 'got loss in the financial year 2010-11 (I.T.Return was filed Correctly)

2.Firm 'X' got profit in the F.year 2011-12(loss in the previous year was not brought forwarded and tax was paid on profit)

3.Firm 'X' got profit in the F.year 2012-13
So my doubt is whether i could brought forward the loss mentioned in point 1 or else was there any alternative to claim such loss
Pls help me in this issue.
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
12 July 2013 You can revise the return of the firm,, if time-limit allows you to do so & claim the refund in AY 2012-13.
.
For claiming the loss it is required to be mention in the subsequent year's return. This is a costly mistake and on technical grounds it may not be allowed to do so as you are desiring.
.
Profile Image

Rajat Poddar

Profile Image

Rajat Poddar (Expert)
12 July 2013 Agreed Paras sir...
Profile Image

satish kumar kumili

Profile Image

satish kumar kumili (Querist)
13 July 2013 Thank u sir
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details