Please Help: income tax
Posted Date : 07-Jul-2011 , 04:01:02 pm | Posted By jainabhinav
is it mandatory for a assess to file ROI before due date if assess has only PGBP loss from "Depreciation".
if ROI is not filled than wht will be the consequences
if ROI is not filled than wht will be the consequences
Category : Income Tax | Answers : 4 | Comments : 2 | Hits : 519
Answers
Answer By: CA VIKAS JAIN
for carry farward of loss u/s-32, return must be filled either before due date or after due date.
Answer By: CA. Sachin Data
agreed with the shared views.....
Answer By: PRIYANKA
unabsorbed depreciation can be carried forward without there being any need of filing return before due date, but in case of any other loss from PGBP, it will not be carried forward unless ROI is filed in time. Moreover it is always advisable to file return before due date as there is always a room for revision thereof in case of any discrepancy found later on in the return, but as u knw that in case of belated return that is not possible.
Answer By: Ketan Samdani
Agree with experts.
Comments
CA VIPIN GARG
08-Jul-2011 , 08:55:37 amDear Abhinav, No it is not mandatory to file a return in the above case. It is mandatory to file the return in case you have the loss under the head PGBP and you want to carry forward the same but if you have the loss on account of unabsorbed depreciation only, you can carry forward the same even if you have not filed your ROI. Hope you will your answer, have a good day my dear.........
jainabhinav
08-Jul-2011 , 09:36:11 amthanx Vipin sir