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

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)
Quick Summary
A taxpayer filed their ITR3 on the extended due date of 10th January 2021 for AY 20-21, including carry-forward losses. They received a notification under Section 143(1)(a)(II) stating losses cannot be carried forward as the return wasn't filed by the due date. The discussion clarifies that filing by 10th January 2021 should indeed allow loss carry-forward, and the issue might stem from the return being incorrectly marked as belated. The user is seeking ways to revise the return.

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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