brought forword & set off of bussiness loss & unabsorbed dep
This query is : Resolved
04 February 2011
I have filed the return of income for the A.Y. 2006-07 by carry forword of bussiness losses. but i failed to file the return of income for the AY 2007-08 & now it is time barred u/s 139(5) also. So can i claim brought forword & set off of losses in the AY 2008-09? is there any othe solution please suggest
04 February 2011
yes you can claimed the carry forward depreciation becuase the filing of return within due date provision is applicable in the year in which the loss arise.
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