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
Am I entitled to enjoy the benefit of carry forward losses for the year
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.
However, you would be able to setoff future profits against unabsorbed depreciation.
13 February 2013
Carry forward of loss will not be allowed if return not filed within due date
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