HIII FRIENDS
I WANT TO ASK THAT IF THE COMPANY IS LATE IN FILLING THE INCOME TAX RETURN THAN CAN IT CARRY FORWARD THE LOSS BROUGHT FORWARD OF PREVIOUS YEAR OTHER THAN THE CURRENT YEAR.
PLEASE HELP ME IN THIS MATTER
THANKING YOU
HARSH
HARSH (STUDENT) (524 Points)
10 February 2014HIII FRIENDS
I WANT TO ASK THAT IF THE COMPANY IS LATE IN FILLING THE INCOME TAX RETURN THAN CAN IT CARRY FORWARD THE LOSS BROUGHT FORWARD OF PREVIOUS YEAR OTHER THAN THE CURRENT YEAR.
PLEASE HELP ME IN THIS MATTER
THANKING YOU
HARSH
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 10 February 2014
Dear,
As per my knowledge company can brought forward last year's loss to current year if company is filed return in time i.e. u/s 139(1), but company cannot carry forward current year's loss to next year because company is not filed return as per section 139(1)
Thank You