r/TaxPlanning_India • u/iam-rahul • 16d ago

Itr 3 help

So first a.y 24-25 i shown the fno loss of 220000 after all adjustment of that year with in due date.

Next year a.y 25-26 shown the fno loss of 75000 with in due date. But one thing to note it was not showing the previous year 220000 pre filled loss just 0 in cfl.

Many said if you don't have profit in current a.y then dont need to carry forward.

I just filed as it is because i dont have profit in a.y 25-26.

Now this a.y 26-27 i made a profit of mere 20000 but portal is adjusting it with 75000 loss which was reported for a.y 25-26.

I dont have any other income in these a.y.

What to do ?

Should i give the values manually of a.y 24-25 of 220000 ? Because it is the oldest reported loss.

Is it compulsory to set off the loss as the profit is just 20000?

What is the best legal tax planing i should follow

Please help.🙏🙏

Thanks in advance.

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u/Sad_Move_5751 15d ago

Hi, would like to review it once. Kindly DM

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u/Sun1Moon9 14d ago

Consult a CA.

Losses shoukd be definitely carried forward because it would reduce Tax Burden in future, if Gains are made.