Carry forward & set off of house property loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2012
Can we set Carry forward & set off of House property Loss if we file the ITR after the Due date ?
16 February 2012
Losses under any head of income cannot be carried forward and claimed set off in the next year(s) if the return is filed after the due date of filing the return of income..
Modification added:
1. House property losses can be carried forward as pr 139(3)..
Modification added:
1. House property losses can be carried forward as pr 139(3)..
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16 February 2012
Dear Hari
What you are saying holds good for all the losses except Losses from House Property.
Therefore Loss from House property can be carry forward and setoff even if Return of Income is filed after due date.
Correct me if im wrong.
What you are saying holds good for all the losses except Losses from House Property.
Therefore Loss from House property can be carry forward and setoff even if Return of Income is filed after due date.
Correct me if im wrong.
Message likes :
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17 February 2012
Section 139(3) read with Section 80 prohibits carry forward and set off of loss under the head PGBP.
It does not apply to loss under the head Income from House Property.
So, as Mr. Rahul said, loss under the head house property can be carried forward and set off even if the return is filed after the due date.
It does not apply to loss under the head Income from House Property.
So, as Mr. Rahul said, loss under the head house property can be carried forward and set off even if the return is filed after the due date.
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2012
thanks to all for reply.
Avinash Sharma
Avinash Sharma
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