Sir<\/p>\n
We have filed return of income for AY 2013-14 showing Loss as per Normal income and also Book loss per 115JB of the Act. <\/p>\n
In the order passed u\/s 143(3 ) certain expenses claimed as revenue expenditure was disallowed and resulting Loss claimed was reduced. <\/p>\n
we have filed appeal to CIT (A) which was not disposed off till 31.01.2020.<\/p>\n
We taken full set off of all carried forward loss and also loss claimed in AY 2013-14 in AY 2016-2017. However, we have incurred further loss in AY.2017-18….till 2019-20. <\/p>\n
Now we want to avail VSVS .<\/p>\n
QUERY<\/p>\n
1) are we eligible to avail VSVS.<\/p>\n
2) We are opting for reduction in carried forward Loss instead of paying Tax….so whether we have to pay tax in AY 2016 -17 where we have set off all carried loss or we have to simply reduced amount from carried forward loss as on date.<\/p>\n
3) In form whether we have to fill Schedule D only or any other schedule ?<\/p>\n
pls share your valuable view for the same.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sir We have filed return of income for AY 2013-14 showing Loss as per Normal income and also Book loss per 115JB of the Act. In the order passed u\/s 143(3 ) certain expenses claimed as revenue expenditure was disallowed and resulting Loss claimed was reduced. we have filed appeal to CIT (A) which was not disposed off till 31.01.2020. We taken full set off of all carried forward loss and also loss claimed in AY 2013-14 in AY 2016-2017. However, we have incurred further loss in AY.2017-18….till 2019-20. Now we want to avail VSVS . QUERY 1) are we eligible to avail VSVS. 2) We are opting for reduction in carried forward Loss instead of paying Tax….so whether we have to pay tax in AY 2016 -17 where we have set off all carried loss or we have to simply reduced amount from carried forward loss as on date. 3) In form whether we have to fill Schedule D only or any other schedule ? pls share your valuable view for the same.<\/p>\n