Return u/s139 (3)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 July 2010
Delayed Return file with an income but after rectification u/s 154 it is in loss .Can losses be carried forward in case of business loss?
Aditya Maheshwari
(Expert)
13 July 2010
Loss return filed belatedly cannot be carried forward even if the same become loss due to rectification.
13 July 2010
In case of return of loss, submitted after the due date, a few losses like business loss, speculation loss, capital loss & loss from the activity of owning & maintaining race horses cannot be carried forward for future set off.
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