Possibility of Filing now ITR for FY 2019-20 (AY 2020-21)

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This discussion clarifies whether it's possible to file an Income Tax Return (ITR) for the Financial Year 2019-20 (Assessment Year 2020-21) after the original due date. The consensus is that a belated return can be filed before March 31, 2021, without requiring additional documentation. It also addresses carrying forward losses from previous financial years, confirming that losses claimed and filed within the due date in earlier years can indeed be carried forward.

gk (Querist)

22 March 2021 Dear Experts,

Pranam!
Please be advised on the below clarifications from your side.
1. Whether it is possible to "File now the ITR for FY 2019-20 (AY 2020-21)?
2. If possible whether any sort of additional documentation or clarification should I submit along with the ITR?
3. I have a loss from Share trade (Short term) in the FY 2018-19 and been indicated in the FY 2018-19 (AY 2019-20) ITR . Whether I could CF that loss to the FY 2019-20 (AY 2020-21)

Thanking you,
Sincerely
gk

Ganeshbabu K

Ganeshbabu K (Expert)

22 March 2021 1)You can file belated return for AY 2020-21 before 31-03-2021.
2)no such additional work needed
3)Yes, if you claimed loss in relevant year return and return filed with in due date then

gk (Querist)

23 March 2021 Thank you very much for your response Dear Ganeshbabu Sir.
For the 3rd question and your answer ..... is it mean I have been missed the due date and could not carry forward the previous AY 2019-20 year loss to the AY 2020-21? please re-confirm.
Regards
gk

Ganeshbabu K

Ganeshbabu K (Expert)

23 March 2021 only current year if you have any losses you are not eligible to carry forward them, but no problem in taking forward losses claimed earlier years.