Urgent Tax Query...

If a female salaried person's return is filed before 31st july 2011 for AY 2011-12 but in that return loss incurred from F&O is left to show.And suppose due date 31st july is passed. then...

1)Can her return be revised after 31st July 2011 with showing the loss in F&O?

2)What would be the last date for the revision of the return?

3)How this loss of F&O be set off in next succeding years n against what?

Replies (1)

1.)  Retrun can be Revised after 31st July 2011

 

2.)  Revise Retrun can be revise before Make Assessment by assessing officer or before next assessment year (31st March 2013) whichever is earlier.

 

3.)  Loss of F&O can be adjust against profit of F&O.

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