Updated return & Brought forward losses

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This discussion clarifies how to handle brought forward losses when an updated return is filed after the original return for a subsequent assessment year. The consensus is that when filing the updated return for AY 2022-23, you should use the date of the original AY 2021-22 return, but with the revised loss figure of Rs. 55,000/-, as determined by the updated return.

Suraj

Suraj (Querist)

14 May 2023 Dear Sir / Madam,

My query is as follows:
The updated return of Mr A for AY 2021-22 was filed after the original return for AY 2022-23.

In updated return for AY 2021-22, the long term capital loss reduced from Rs. 83000/- to Rs 55000/- and he paid the additional liability afterwards.
However, since the original return for AY 2022-23 was filed BEFORE this updated return, the brought forward long term capital loss was shown as Rs. 83000/- & claimed.

Now the updated return for AY 2022-23 is required to be filed with revised brought forward long term capital loss of Rs. 55000/-.

So, under brought forward losses section of AY 2022-23 return, which date of return for AY 2021-22 to be mentioned for claiming the losses? date of original return of AY 2021-22 or date of updated return?? I am bit confused.

I hope my query is clear.
Kindly revert.
Thanks & Regards,
Suraj