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Can not carry forward loss after due date - u/s 143(1)(a)(II) - AY 20-21

Tax queries 343 views 4 replies

For AY 20-21, I filed ITR3 with some carry forward loss on 10 Jan 2021 which is the last day. Now I got a notification saying " u/s 143(1)(a)(II) Taxpayers can not carry forward the current year loss as return of income is not filed within the due date / extended due date as specified in section 139(1) of the Act".

I was thinking the extended last date for ITR3 no audit for AY 20-21 is 10 Jan 2021 on which I filed the return. Please anyone clarify whether I can carry forward loss or not. Thank You

Replies (4)

If the return was filed before 12 Midnight (10.01.2021); you will be eligible to carry forward the losses. Just reply to your Jurisdictional ITO.

Am I right the last date is indeed 10 Jan 2021 for AY 20-21 with carry forward losses allowed ? Thanks !

Yes U R right..

 

It seems I selected belated return even though I filed within due date. Is there any way to revise the return in the website? There seems no options..


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