Can Speculation loss of A,y 2009-10 be set-off against speculation profit of A.Y. 2010-11 current year even though return of A.y. 2010-11 is not filed within due date? Also can the same loss be carried forward and set-off in future years?
NIKIT SHETH (Chartered Accountant) (55 Points)
10 December 2010Can Speculation loss of A,y 2009-10 be set-off against speculation profit of A.Y. 2010-11 current year even though return of A.y. 2010-11 is not filed within due date? Also can the same loss be carried forward and set-off in future years?
CA Sahil Singla..
(Service Tax )
(3746 Points)
Replied 10 December 2010
no problem in that...According to provision relating to carry forward of speculative loss..the loss of particular year for wich the return was not filed within due date ,can not be carried forward. But in ur case , the thing is different, u hav not filed return within due date of the year ,whom against these losses r to be set off....so there is no problem with this set off..u can go for it...& the same can be carried forward for 4 years
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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