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Claimimg set off of previous years losses

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 October 2013 can i claim set off of previous years business losses in my current years return of income if my current year's return is not filed on time?
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
08 October 2013 No, I don't think the set off will be allowed, as it is a belated return..
But you can set off such loss in next year...
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 October 2013 Thanks...for the quick reply
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sushil kumar

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sushil kumar (Expert)
08 October 2013 Yes you can, if previous year's return has been filed on time.
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