Please Help: business loss disallowed for set off against interest from bank
Posted Date : 20-Mar-2020 , 09:11:33 pm | Posted By: R KANDASUBRAMANIAN
Category :
Income Tax | Answers :
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Please refer ITR 6 for A.Y. 2019-20 net profit included income from interest In BP part we have shown interest income as income considered under other heads and accounted the same as income from other sources resulting BP has shown business loss and bank interest is shown under income from other sources. Cpc disallowed this business loss stating PL account not showing loss. How to file rectification under section 154 and how to explain this details while filing
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| Posted By : R KANDASUBRAMANIAN |
12-Apr-2020, 09:18:08 |
| dear sir well and thanks for your reply and with reference to the objections filed, CPC has issued favourable orders and hence no need to file revised return |
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| Posted By : Akash Dhanuka |
11-Apr-2020, 08:03:54 |
| Filled the revised return since it can files up to 30/06 |
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