amit (Software Consultant) (103 Points)
28 March 2022Hi, I incurred costs in business since last 2-3 years....but not able to allocate the same in ITR, since it was pre-revenue phase....
would also be looking for immediate help in Current AY ITR filing , i stay in delhi
PLEASE HELP! - aaresponse @ yahoo.com
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 28 March 2022
amit
(Software Consultant)
(103 Points)
Replied 28 March 2022
Can we claim it 100%, and how do we claim, under which section of ITR3
Do I need to record those expenses in current ITRs
Need professional help in this regard , to review previous and current ITR (current AY) to accordingly plan
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 28 March 2022
amit
(Software Consultant)
(103 Points)
Replied 28 March 2022
how about if i show these costs in current ay.....with noo revenue....can it be feasible and ok to do that
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 28 March 2022
amit
(Software Consultant)
(103 Points)
Replied 29 March 2022
ok, lets say i had costing of around 200000 in FY 2020-21, and no revenue.
In ITR of FY2020-21 (AY2021-22), Can I show that as proprietor business/profession with zero revenue and actual costs, which will be considered as loss to business and could be carried forward in next FY to be setoff with revenue in later years
it means real time reporting of costs in the same year when the cost incurred
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 29 March 2022
CAclubindia
