02 August 2016
Hello,
Suppose a person incurs long term capital loss in FY 12-13, so that same will be carried forward in the next 8 years.
But suppose the person files late return in FY 2013-14, then loss incurred in FY 13-14 will not be carried forward.
Does this mean that the loss of FY 12-13 will also stop to be carried forward in subsequent years?
Thanks in advance .
CAclubindia
