Business loss
This query is : Resolved
10 March 2012
Can a person carry forward a business loss despite of late filing of return?
10 March 2012
In case of belated return carry forward of loss is not allowed
11 March 2012
Section 80 has a mandate that the loss determined in pursuance of a return filed u/s 139(3) is only eligible for carry forward and set off ,meaning thereby loss of belated return can't be carried forward for the purpose of set off.
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