Setoff and carryforward

This query is : Resolved

ADHITYA SRI GUPTA KOTHAMASU (Querist)
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13 January 2015 We cannot carryforward losses if we file the return after due date. Can we setoff the losses if we file the return after the due date???????

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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13 January 2015 Losses under the head "PGBP" and "capital gains" cannot be carried forward in case of belated return. however losses under the head 'Income from house property' or 'other sources' and unabsorbed depreciation can be carried forward.

Rupesh Jain

Rupesh Jain (Expert)
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13 January 2015 business loss and house loss cannot c/f if return file after due date.
and unabrosed depreciation and loss can carry forward if return file after due date.

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