ExpressITR || Procedure for Feeding Previous Year's Carried Forward Losses and Unabsorbed Depreciation into the Current Year

Procedure for Feeding Previous Year's Carried Forward Losses and Unabsorbed Depreciation into the Current Year

Step 1: Log in and Access ITR Summary

1. Log in to Express ITR using your credentials.
   
2. Access the relevant client profile for whom the tax return is being prepared.
   
3. Navigate to the ITR Summary section and click on Return Flow to initiate the process.
   

      

Step 2: Access the Losses Section under the Head of Income

1. Locate and open the Losses section under the applicable Head of Income in the return.
   

      

Step 3: Enter Previous Year's Losses in "Schedule CFL"

1. Scroll down to find the annexure titled "Schedule CFL: Details of Past Year Losses to Be Brought Forward or Current Year Losses to Be Carried Forward".
   

      

1. Enter the relevant previous year's loss details under the appropriate assessment year.
   

Step 4: Enter Unabsorbed Depreciation in "Schedule UD"

1. For Unabsorbed Depreciation, scroll further down on the same page and locate the annexure titled "Schedule UD: Unabsorbed Depreciation and Allowance under Section 35(4)".
   

      

1. Input the relevant Unabsorbed Depreciation details from the previous assessment year.
   

Note: Ensure all entries are accurate and aligned with the relevant provisions under the Income Tax Act.

We trust this guide will assist you in efficiently completing the necessary data entry.

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