B/F Losses accepted in ITR3 New Regime, is it correct.

Manoj Punjabi (Accountant) (274 Points)

14 July 2024  

Dear friends

I am filing ITR3, Under new regime I came to know that B/F business losses (options trading losses) are not allowed, but in Schedule BFLA there is option to add losses of previous years manually. These columns were not autofilled. I filled these manually.

I have b/f loss of 1-lac of AY21-22  &  3-Lacs for AY22-23, I filled up those figures in year wise b/f losses, it was accepted in ITR 3, no error.

These b/f losses are not utilised as set-off in current year, as there is no additional income for set-ff. just these b/f losses are c/f to future years. 

Json generated without any error, with figures of previous years losses c/f to future.

Used 1.1.3 latest IT utility version.

Should I upload it, is it okay that system accepted b/f business losses in new regime.

Thanks in advance.