Returned loss is eligible to be carried forward for specific period of time.
What if one such return is belated during the specific period it is eligible to carry forward the loss.
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CARRY FORWARD OF LOSS
Replies (3)
Quick Summary
Yes
brought forward loss you can carry forward.
brought forward loss you can carry forward.
CARRY FORWARD and set off of loss is not allowed if return is belated.
If carry forward of loss of a particular year is allowed for a period of 8 year.
case 1
if the assessed file belated return in succeeding year, then will the assessee be allowed to carry forward and set the loss subsequent year which was allowed to be carry forward earlier.
Case 2
if assesse do not file return in succeeding year. But again file return in subsequent year. will the assesse be allowed to carry forward and set off loss in subsequent year
If carry forward of loss of a particular year is allowed for a period of 8 year.
case 1
if the assessed file belated return in succeeding year, then will the assessee be allowed to carry forward and set the loss subsequent year which was allowed to be carry forward earlier.
Case 2
if assesse do not file return in succeeding year. But again file return in subsequent year. will the assesse be allowed to carry forward and set off loss in subsequent year
Carry forward and set-off of current year losses only not allowed if roi filed belatedly. there's no bar for brought forward losses
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