Loss in FY 23-24 and ITR filing

11 September 2024

Sir I have loss in FY 23-24, I able to to file ITR now ? I trying to file but system reject me. It is partnership firm. pls

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177726 Points)
Replied 12 September 2024

As per sec. 139(3) IT act, you cannot declare & carry forward loss in PGBP &/or CG, when return is not filed within due date.

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Tapas Samadder (536 Points)
Replied 12 September 2024

Thanks Sir, now how file this ITR, pls

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177726 Points)
Replied 12 September 2024

Adjust the loss upto the income that can be set off. Finally there should not be any loss that need to be carry forward.

If there is no other income which can be set off, then file NIL return.

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Tapas Samadder (536 Points)
Replied 12 September 2024

Many Thanks Sir

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177726 Points)
Replied 12 September 2024

You are welcome.

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