01 October 2014
our company is pvt ltd we havn't suppose have tax audit, our net loss (2,50,000/-) wasn't filled return on 30.09.2014, we intend to file today can we ablt to carry forward loss to subsequent year please advice on urgent basis
01 October 2014
As you are not subject to tax audit . . your due date of filing is 30.09.2014 . . as you failed to file return with in the time given you cannot carry forward the loss to subsequent year. . . . However you may get relief and loss may be carried forward to future year ,
if you made a petition with Commissioner of income tax under section 119(2)(b) seeking Condonation of delay.
If Commissioner of income tax condones you may get your loss carried forward to future years
CAclubindia
