Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

its urgent about house property

Thumar Shital (PCC Student) (241 Points)

02 December 2010

hi every body,

if we filed the IT Return after due date then loss is carry forwarded or not?

Reply
Follow
Share

4 Replies

Manmohan ACA, CS (Chartered Accountant ) (14243 Points)
Replied 02 December 2010

simply, loss u/s 71B (house property loss) shall be carried forward irrespective if date of filing of return .

Santhosh Poojary (SIEMPRE AHÍ PARA TI) (15607 Points)
Replied 02 December 2010

Originally posted by : Manmohan
	simply, loss u/s 71B (house property loss) shall be carried forward irrespective if date of filing of return .

Ankit Agarwalla (CA) (281 Points)
Replied 03 December 2010

The above answer is correct. Only HP Loss is allowed to be carried forward if return is filed after due date. Losses under all other heads cannot be carried forward. However, Unabsorbed depreciation can be carried forward even if a return is filed late or not even filed.