Income-tax Officer (Retired)
25 Points
Joined October 2009
Dear Aditi, plz go through section 139(1). A reading of this section makes it clear that 30th September is due date for filing return of income only in those cases in which the accounts are required to be audited u/s 44AB (obviously not under any other section of I.T. Act or under any other law as in your case). Therefore, it follows that the due date for filing of return in your case is 31st July and not 30th September because, although the accounts in your case are required to be audited under Coop. Act, but not under section 44AB of the I.T. Act. Thus there is no mistake in the software and loss claimed in your case can not be allowed to be carried forward to subsequent years due to clear provisions of section 139(3) read with section 80 of the I.T. Act. In case you require any other clarification in this regard, you are a welcome.