Carry forward of f & o loss

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2015 During financial Year 2014-15, I had incurred a loss of Appros.30.00 lac against Future & Option. My Income include salary income. Due to some unavoidable circumstances, I could not filr my IT Return before due date. Please advise me whether I can carry forward my F& O Loss or how can I set off the above loss ?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 December 2015 No. You can not carry forward the loss since the return has not been filed by you within due date. You can submit belated return u/s 139(4) now but unfortunately carry forward of loss will not be allowed.