Query regarding CFL and BFLA
This query is : Resolved
25 October 2023
Is it necessary to fill schedule-CFL with every ITR to carry forward losses of previous years?
(Or)
Is it necessary to fill CFL only when BFLA is in use?
(Or)
Is it necessary to fill CFL only when BFLA is in use?
25 October 2023
Yes, but both schedules auto filed you have to check and confirm.
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26 October 2023
Let us say I had loss in F.Y 2019-20 but I did not mention it in schedule CFL of ITR for F.Y 2020-21, F.Y 2021-22 and F.Y 2022-23.
Now in the ITR for F.Y 2023-24, can I directly update the schedule CFL with loss details of F.Y 2019-20 to adjust with F.Y. 2023-24 gains.
Now in the ITR for F.Y 2023-24, can I directly update the schedule CFL with loss details of F.Y 2019-20 to adjust with F.Y. 2023-24 gains.
26 October 2023
No you can't do it now.
It should have been carried forward every year.
It should have been carried forward every year.
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26 October 2023
Ok, thanks for the information.
26 October 2023
You are welcome..
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