Hi is losses allowed to ve carried forward in case where original return was filed within due date but losses are reported by filing revised return after due date?
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Quick Summary
This discussion clarifies whether losses can be carried forward if the original tax return was filed on time, but a revised return reporting these losses is filed after the due date. The consensus is that this is generally permissible, as a revised return effectively replaces the original and is considered filed on the original submission date. However, it's crucial to ensure the revised return itself is filed within the allowed timeframe for revised submissions.
Revised return should be filed within the deadline allowed for revised return..You may not be able to file the revised return after due date of revised return.
Check the revised return time limit
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