Carry forward losses of ay 2011-12
This query is : Resolved
14 November 2013
Please clarify;
In the AY 2011-12 I declared Short Term Capital Losses from Equity for an amount of Rs. 1,00,000, but forgot to take its benefit (as carry forward) in AY 2012-13. Now if AY 2013-14 filing is required to be done (though its delay now), can I take the claim of the losses declared in the AY 2011-12 which I forgot to mention in IT returns for the AY 2012-13?
Many thanks in advance.
In the AY 2011-12 I declared Short Term Capital Losses from Equity for an amount of Rs. 1,00,000, but forgot to take its benefit (as carry forward) in AY 2012-13. Now if AY 2013-14 filing is required to be done (though its delay now), can I take the claim of the losses declared in the AY 2011-12 which I forgot to mention in IT returns for the AY 2012-13?
Many thanks in advance.
15 November 2013
1. did you file the return for AY 2012-13 in time? If yes, you can revise the said return to reflect the carry forward of losses.
2. you can claim the set off of current year income against AY 2011-12 losses.
2. you can claim the set off of current year income against AY 2011-12 losses.
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