Carry forward losses

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 February 2013 I could not submit the Annual Return of Income Tax for the AY 2012-2013 u/s 139 within the due date but Tax Audit Report U/s 44AB was prepared within the due date.
Am I entitled to enjoy the benefit of carry forward losses for the year

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)
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12 February 2013 You would not be entitled to carry forward losses other than loss from House Property.

However, you would be able to setoff future profits against unabsorbed depreciation.

Anand

Anand (Expert)
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13 February 2013 Carry forward of loss will not be allowed if return not filed within due date

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