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Losses availed if assessee filed belat case of belated retur
Hi,
can assessee avail benefit of carry forward of losses if he filed belated return?
Replies (2)
Only Unabsorbed depreciation u/s 32(2) or loss under the head house property u/s 71B can be carry forward even if the return of income filed belatedly.
...but belated return shud be filed within time limit mentioned u/s 139(4). However, return filed after belated period will be treated as invalid. Consequently benefit of carryforward wil be lost.
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