16 May 2018
The company has a loss in current year of Rs. 132975 for financial year 2016-17. ITR is filed late hence loss of current year cannot be carried forward. But In ITR 6 this figure of loss in current year is automatically being depicted in CFL sheet of excel utility as loss being carried forward. I have recieved a notice from department mentioning the same " In Schedule Part BTI, Taxpayer is carrying forward current year loss which is not allowable as the return is filed after the due date." Please tell me how to correct ITR 6 so that loss of current year is not carried forward. Thanks.
16 May 2018
To cure this we have to file a Revised Return and in computation we have to show as loss is not to be c/fd. But as you have said that the utility does not support us to do so, In my view - CPC itself will take the cognisance and remove the same from being c/fd.
16 May 2018
Understand that, this is an error of the excel utility available at the timefiling. Course of action is- + file revised return (presumes the present utility has corrected the error existed therein) + reply online to the notice by selecting option 'accept' from the drop down menu and fill up the ack. no. of the revised return.
CAclubindia
