Only Unabsorbed depreciation u/s 32(2) or loss under the head house property u/s 71B can be carry forward even if the return of income filed belatedly.
...but belated return shud be filed within time limit mentioned u/s 139(4). However, return filed after belated period will be treated as invalid. Consequently benefit of carryforward wil be lost.
CAclubindia
