The condition stipulated/enumerated in section 80 (i.e. PGBP loss or capital loss or loss from owing and maintaining horse races cannot be C/F if return filed after due date u/s 139(1)) applies only for the year in which the loss was sustained/incurred. It does not apply to the ROI of the year in which carry forward is claimed. What does this statement mean?
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Section 139(3) loss return
Replies (1)
yes its for carry forward of loss only. not for adjusting losses.
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