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Carry forward loss

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 May 2016 Dear Sir/Madam,

We have STCL Loss in the A.Y 2009-10, and filed the return as per Due date. & in the Next Year we avail the loss against STCG in the A.Y 2010-11, But the Income tax Return filed after Due Date in A.y 2010-11 Whether its allowable.

its Urgent.......
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CA SUNIL K GARG

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CA SUNIL K GARG (Expert)
13 May 2016 STCL can be carried forward and set off against the STCG in next year. Provided the loss return is filed with in the prescribed time limit. So in your case, STCL can set off against STCG.
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Rupesh Jain

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Rupesh Jain (Expert)
13 May 2016 you can take the set off due to in loss year you file return on due date.
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