Carry Forward & Set Off
This query is : Resolved
29 March 2009
If an assessee has suffered loss under PGBP in the previous year 2006-07 and furnished the return with time u/s 139(1). But in the A/y 2008-09 he has filed the return after time limit u/s 139(1).
I. Income in the A/y 2008-09
II.Loss in the A/y 2008-09
Whether under each of the above cases he will have the benefit of carry forward and set off of loss sustained in the P/y 2006-07.
I. Income in the A/y 2008-09
II.Loss in the A/y 2008-09
Whether under each of the above cases he will have the benefit of carry forward and set off of loss sustained in the P/y 2006-07.
29 March 2009
There is no difference there is loss or profit in the year 2008-09 loss will be carry forwar of 2006-07
But loss would not carry forward for the year 2008-09
But loss would not carry forward for the year 2008-09
30 March 2009
any loss which could be setted off in the year 2008-09 will not be allowed to set- off and remaining will be available for set off
30 March 2009
loss for the year 06-07 can be set off against the income of year 08-09 and can be carry fwd if not fully set off
but loss for the year 08-09 will not be allowed to be carry fwd if return not filed on time as per sec 139(1)
but loss for the year 08-09 will not be allowed to be carry fwd if return not filed on time as per sec 139(1)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- SEC 54 OF IT ACT
- Form 26QB for TDS on property
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- RCM - commercial rent paid to URP under GST
- GST Annual Returns filing due date
- Offsetting interest income against derivative trading losses
- Whether still royalty
- Gst Sales of FY 2023-24
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
