Impact on Business losses on delay in filing of IT Return

plz help,

One of my client had delayed in filing of income tax return U/s 139 in previous year, he had business losses in that financial year which was purely based on Depreciation amount ( say 90 % ) in that financial year, can he carry forward the loss amount in next financial year, if yes then for how many years.

thanks in advance

Replies (6)

no,

the losses can't be carry forwarded

Yu can carry forward.... since it is a dep loss return filing within due date not necessary... carry forward is permissible for any number of years..

The loss can be carried forwarded,,,,

Since it relates to unabsorbed depreciation...section 80 is not applicable..hence the loss can be carried forwarded.

read sec 139(3) with sec 80 ---->

if return not filed with time allowed u/s 139(1) then 

Losses under the head "PGBP " AND "CAPITAL GAIN" cannt b carried fwd and 

setoff so restriction is u/s 72 and sec 74 

and unabsorbed depreciation is governed by sec 32(2)

so as ur bus. loss consists of 90% of depre. so entire 90% dep can b carried f/w but 

10% bus. loss cant b c/f and setoff.

still doubt and any query----> u may email------> ramil9935222432 @ hotmail.com

bye 

thanks lot friends for your valuable replies.

Unabsorbed depreciation can be carried forward but business loss cannot be carried forward.

In case of belated return u/s 139(4) U can carried forward only unabsorbed depreciation.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details