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(Querist)
30 March 2021 SIR- I am an individual transporter and have 77 trucks. Due to depreciation loss, net loss have been accounted in P& L Account. Due to the capital loss, My capital balance is also in Loss. Besides,
I delayed in filing of ITR for 19-20. I have filed ITR only on 31-03-2021.
My doubts are,
1- Can I carry forward the depreciation loss to the next year?
2- Can I adjust the capital loss with the future profits?


Plz guide us sir
thanks in adv
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
28 November 2021 NO. RETURN SHOULD HAVE BEEN FILED U/S. 139(1) OF IT ACT.
MOREOVER IN YOUR CASE SEC. 44AE IS APPLICABLE.
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