Revise belated loss return to setoff income of same f.y?
This query is : Resolved
20 February 2018
As on quarter ending 31 mar 2017, the company had a particular service bill for around 1.3 crores and had already paid service tax on it and also showed it in the service tax return. But unfortunately, the income was somehow not included while calculating total income.
Without considering the above income of 1.3 crores, the company has a loss of 1.2 crores.
The return of income was filed after the due date showing a loss of 1.2 crores.
Now, I know loss cannot be carried forward in case of belated return, but my question is can I revise the return and set off the loss from the income of the same FY?
Without considering the above income of 1.3 crores, the company has a loss of 1.2 crores.
The return of income was filed after the due date showing a loss of 1.2 crores.
Now, I know loss cannot be carried forward in case of belated return, but my question is can I revise the return and set off the loss from the income of the same FY?
21 February 2018
but there is a notification applicable from april 2017 which says you can revise belated returns from FY 2016-17 onwards
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