Loss as per accounts but profit as per income tax

This query is : Resolved

akshay (Querist)
Follow

27 January 2011 Sir
we are a company
we were having loss of Rs.4600/- as per our accounts in FY 2008-09.
but we reported profit of Rs. 10000/- as per income tax law in FY 2008-09.IT Return was filed on 31st march 2010.

Now, my question is that can i claim setoff of loss of Rs. 4600/- in my books of accounts in FY 2009-10.
We are having book profits in FY 2009-10.

Please help me.

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
Follow

27 January 2011 Book loss always carry foemard, It is part of your balance sheet. Profit and loss account balance in your books of a/c includes this loss.

Guest

Guest (Expert)

27 January 2011 It does not make any difference for incometax purpose

Upgrade to CAclubindia Pro. Subscribe Now!