Abhinav (student) (564 Points)
01 August 2014Hi all
I uploaded a return just a few seconds to 12 o'clock yesterday. The Income tax website accepted the X M L that had Return filing section as 139 (1) (before due date) but the date on acknowledgement is 01st August 2014.
I want your opinions whether the loss will be carried forward.
*modified
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 01 August 2014
Date on acknowledgement 01 july 2014??????
CA PALLAVI VOHRA
(Learner)
(140 Points)
Replied 01 August 2014
Please check:Date on Acknowledgement would be 1st August 2014 and in that case loss will not be carried forward.
Just see if today any notification is received for extension of due date for filing return.
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 01 August 2014
In case the date on acknowledgement is Aug 1,2014 then the loss cannot be carried forwad
In order the condone the delay ,An application may be made to CIT/CCIT/CBDT u/s 119(2)
As per CBDT Instrructions
-To CIT if returned loss to be c/f upto Rs. 1lacs.
-To CCIT if returned loss to be c/f exceeds Rs. 1lacs but upto 5lacs
-and to CBDT if returned loss to be c/f exceeds Rs. 5lacs.
In case the date on acknowledgement is Aug 1,2014 then the loss cannot be carried forwad In order the condone the delay ,An application may be made to CIT/CCIT/CBDT u/s 119(2) As per CBDT Instrructions -To CIT if returned loss to be c/f upto Rs. 1lacs. -To CCIT if returned loss to be c/f exceeds Rs. 1lacs but upto 5lacs -and to CBDT if returned loss to be c/f exceeds Rs. 5lacs
CAclubindia
