Hello,
Suppose a person incurs long term capital loss in FY 12-13, so that same will be carried forward in the next 8 years.
But suppose the person files late return in FY 2013-14, then loss incurred in FY 13-14 will not be carried forward.
Does this mean that the loss of FY 12-13 will also stop to be carried forward in subsequent years?
Thanks in advance .
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Long term capital loss
Replies (3)
Yes I agree with this but could not find any official reference.
You cannot carry forward a loss unless it b/f from earlier year. Hence, cannot be c/f means not at all.
hiiiii,
The loss of the current year can not be carried forward if the return for the current year is not filled within due date. but the loss of earlier years can be carried forward if the return of loss for that year has been filled within due date.
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