Links from Section 395A | ||
---|---|---|
Act | Linked to | Context |
Taxes Consolidation Act, 1997 |
(2) Where an individual carrying on a trade or profession, either solely or in partnership, has sustained a loss in the relevant period in respect of which that individual could, but for the making of a claim under subsection (3), make a claim to carry forward such loss under section 382, (in this section referred to as the ‘relevant loss’) the individual may make a claim under subsection (3). |
|
Taxes Consolidation Act, 1997 |
(3) Subject to section 395C, an individual may make a claim under this subsection to have any portion of the relevant loss carried back and deducted from or set off against the amount of profits or gains on which the individual is assessed under Schedule D in respect of the trade or profession concerned for the year of assessment 2019 and, on the making of the claim, the relief shall be given as a deduction from or set off against the amount of those profits or gains. |
|
Links to Section 395A (from within TaxSource Total) | ||
Act | Linked from | Context |
“estimated relevant loss” means an amount that, based on the best estimate that may reasonably be made, is likely to equal the amount of the relevant loss when the amount of that loss is calculated in accordance with section 395A; |
||
(2) Subject to subsections (3) and (4), a relevant individual may make a provisional claim for relief under section 395A or 304(3A), as the case may be (in this section referred to as an ‘interim claim’) as if— |
||
(a) references to relevant losses in section 395A were references to estimated relevant losses, and |
||
(c) a claim under section 395A or 304(3A), as the case may be, shall be made by the specified return date for the tax year in which the relevant loss is sustained or relevant allowances are claimed (in this section referred to as the ‘final claim’), as the case may be, and if no such claim is made by that date then, where the amounts of the relevant loss and the relevant allowances that would be subject to such a claim are not lower than the estimated relevant loss and the estimated relevant allowances upon which the interim claim was made, the interim claim shall be deemed to be a final claim. |
||
Taxes Consolidation Act, 1997 |
“estimated relevant loss” means an amount that, based on the best estimate that may reasonably be made, is likely to equal the amount of the relevant loss when the amount of that loss is calculated in accordance with section 395A; |
|
Taxes Consolidation Act, 1997 |
(2) Subject to subsections (3) and (4), a relevant individual may make a provisional claim for relief under section 395A or 304(3A), as the case may be (in this section referred to as an ‘interim claim’) as if— |
|
Taxes Consolidation Act, 1997 |
(a) references to relevant losses in section 395A were references to estimated relevant losses, and |
|
Taxes Consolidation Act, 1997 |
(c) a claim under section 395A or 304(3A), as the case may be, shall be made by the specified return date for the tax year in which the relevant loss is sustained or relevant allowances are claimed (in this section referred to as the ‘final claim’), as the case may be, and if no such claim is made by that date then, where the amounts of the relevant loss and the relevant allowances that would be subject to such a claim are not lower than the estimated relevant loss and the estimated relevant allowances upon which the interim claim was made, the interim claim shall be deemed to be a final claim. |