Carry forward losses
This query is : Resolved
CA RAHUL SHARMA
(Querist)
28 July 2012
Hello :
I filed return having short term capital loss by due date of 7000 for A.Y.10-11.
In A.Y.2011 - 12, I further incurred losses of 50000 of short term capital losses, for which I filed return by due date. But while filing I failed to Fill column of Brought Forward Losses of Last Year in return filing form.
But now in Curent Assement Year 2012 - 13, I further incurred Losses of 25000 as short term capital losses. Now I want to file return showing Brought Losses of Past Year in Return Form.
My Question is can I claim Losses of A.Y. 10 -11 while filing current year return though I forget to show in Return of A.Y. 10-11.
My view is that Yes I can claim, since for the Losses I have filed the return by due date.
Please suggest ur opinion.
I filed return having short term capital loss by due date of 7000 for A.Y.10-11.
In A.Y.2011 - 12, I further incurred losses of 50000 of short term capital losses, for which I filed return by due date. But while filing I failed to Fill column of Brought Forward Losses of Last Year in return filing form.
But now in Curent Assement Year 2012 - 13, I further incurred Losses of 25000 as short term capital losses. Now I want to file return showing Brought Losses of Past Year in Return Form.
My Question is can I claim Losses of A.Y. 10 -11 while filing current year return though I forget to show in Return of A.Y. 10-11.
My view is that Yes I can claim, since for the Losses I have filed the return by due date.
Please suggest ur opinion.
Amol S Joglekar
(Expert)
28 July 2012
Yes. Due date filing condition is for carry forward... So you can show the brought forward loss although not shown in last return.
CA RAHUL SHARMA
(Querist)
28 July 2012
THANKS FOR UR VALUABLE RESPONSE
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