Filing of tax audit accounts...
This query is : Resolved
23 October 2010
Dear Experts,
I have a doubt...pls clarify me...
Suppose i have prepared the tax audit report Form 3CB and Form 3CD before the time limit u/s 139 but did not file the accounts with the income tax website (Eg. ITR-IV) within the time limit u/s 139. Still can we carry forward the business loss?
Thanks & Regards,
Rajesh.
I have a doubt...pls clarify me...
Suppose i have prepared the tax audit report Form 3CB and Form 3CD before the time limit u/s 139 but did not file the accounts with the income tax website (Eg. ITR-IV) within the time limit u/s 139. Still can we carry forward the business loss?
Thanks & Regards,
Rajesh.
23 October 2010
139(3) does not allow the assessee to carry forward the loss for Income tax purpose.
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23 October 2010
Reasonable delay in filing return can be condoned by AO/CDBT on showing sufficient cause.......
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23 October 2010
BC Sir is right in his interpretation
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24 October 2010
agreed with warrier ji ......... loss can not be c/f under IT a
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