Invalid return u/s 139(9)

Since your original return has been declared invalid, its like you never filed a return in the first place. Now, you could file a belated return u/s 139(4) if within the time limits (upto 1 year from end of Assessment Year).

For AY 2015-16, you could file such belated return only upto 31.03.2017. For AY 2016-17, you have time up till 31.03.2018.

no loss shall be allowed to be carried forward under the head Business or Profession or under the head Capital Gain 

It is to be noted that a penalty of Rs 5000 may be imposed u/s 27 on belated return 

if return become invalid you cant file original return better option is file revised return

if return become invalid you cant file original return better option is file revised return

Thanks everyone for your valuable suggestions sply. Mr. Sanjay S. I now can file u/s 139(4).