Loss on sale of property & revised return
This query is : Resolved
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24 March 2022
Dear Sir / Madam,
My query is related to claiming losses & revised return.
Mr A has filed ITR for FY 2020-21 within due date; however, he was not able to show loss on sale of property as some papers were not readily available. However he then filed the revised return in March 2021 and showed this sale of property transaction and showed the loss.
Can he carry forward this loss in the ITR of FY 2021-22?
Kindly Guide.
Regards,
Suraj
My query is related to claiming losses & revised return.
Mr A has filed ITR for FY 2020-21 within due date; however, he was not able to show loss on sale of property as some papers were not readily available. However he then filed the revised return in March 2021 and showed this sale of property transaction and showed the loss.
Can he carry forward this loss in the ITR of FY 2021-22?
Kindly Guide.
Regards,
Suraj
24 March 2022
Yes, he can carry forward the loss as original return filed within the due date.
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25 March 2022
You are welcome................
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