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Response to income tax officer

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This query is : Resolved

Mohitjain (Querist)

16 March 2015 I have not filled return for A.Y. 2013-14, having PGBP loss w.r.t Speculative Business as well as Cash market Loss which i does not want to carry forward now i am filling my return.

Please suggest how I show show speculative Loss and also
As return is not filled under Section 139(1) thus loss is not allowed to be carried forward but while i filling excel utility of ITR 4 (downloaded from Income tax website) it does not take Carry forward of loss to next year as Zero instead of that it shows carry forward of Loss equal to my loss, which is an error.

So please suggest: -
1) How to show Speculative loss in ITR
2) Error of ITR4 excel utility about Carry forward of losses

Moksha Kalyan ram A

Moksha Kalyan ram A (Expert)

16 March 2015 Your current filing would be a belated return under section 139(4). Change the selection on the first page. Carried forward is not allowed and the same would be required to be filed.

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