23 July 2023
Dear Sir/Madam, My query is as follows:
Mr A filed his return for AY 2021-22 within due date and show Long Term capital loss of Rs. 250,000/- to be carried forward.
He also filed his return for AY 2022-23 within due date, Paid the taxes. However he forgot to show last years LTCLoss of Rs. 250,000/- in losses brought down section.
Now while filing the return for AY 2023-24, he realised his mistake.
I wish to know: How can he claim this LTCLoss of Rs. 250,0000/- in AY 2023-24? Can he file updated return for AY 2022-23 and show this loss? and then show this loss in AY 2023-24 return? Or he can not claim that loss now as it was not shown in earlier return?
CAclubindia
