Carry forward of loss of earlier years

Page no : 3

Govind Dadheech (Student CA Final ) (25 Points)
Replied 30 September 2014

But due date is extended to 30.11.2014 so I think Co. Can carry forward the losses of A.Y. 2014-15 and previous years as per provision.. @

Raunak Vora (article) (86 Points)
Replied 30 September 2014

U cannot c/f losses for A.Y 14-15 but u cn c/f losses of A.Y 13-14 as the return for that A.Y was filed on time. Also losses under house prop cn be c/f for current A.Y i.e 14-15 even if return is filed late

CA Brijendra Tripathi (Consultant) (142 Points)
Replied 30 September 2014

Yes carry forward of losses is allowed if the return is filed within the due date of which assessment year loss is being carried forward & allowed to set off in nextyear even Iif the return is not filed within the due date.