Capital gain loss setoff

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Faisal Sharif (Querist)

28 June 2013 Respected Sir,
I have filed an IT return for one of my client in A.Y 2011-12 within the due date and got long term capital loss on bonds occurred in the same year which have been not set off in the same year because of no gains which I have carry forward in the next A.Y 2012-13, but in A.Y 2012-13 I have filed the IT return after the due date and carry forward the same loss as mention above.
In the current year A.Y 2013-14, my client got some amount of long term capital gain, so my question is that can I get the set off of my loss against this gains.

Thanking You
Faisal Sharif

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

28 June 2013 For claiming the loss it is necessary to file the return on time.
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For Carrying Forward and Set Off of losses already claimed, it is not so.
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YOU CAN SET OFF THE B/FD LOSSES.
.

Faisal Sharif

Faisal Sharif (Querist)

29 June 2013 Dear Sir,
I am very glad to hear the reply from you, but i need more clearance that when i am getting the set off this year then it is mandatory that to file the return before the due date i.e 31/07/2013 or not.

Thanking You
Faisal Sharif.

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