Please Help: Carry Forward of Losses
Posted Date : 29-Jul-2014 , 12:37:54 pm | Posted By DLS
One of my collegue suffered losses in trading of shares in FY2012, which were claimed by him in the ITR of that year and accordingly, the losses were carry forward. In the ITR of AY 2013-14, he forgot to carry forward the losses and filled his ITR. There was a refund payable to him in that ITR. The refund was assessed and was accordingly paid. Now, in the ITR of current year he wants to carry forward that Loss. Can he do this?
Category : Income Tax | Answers : 0 | Comments : 1 | Hits : 231
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devraj sharma
30-Jul-2014 , 11:17:19 amFirst your friend need to revised the return for assessment year 2013-14 if return filed on or before 31st july and after that he can carried forward loss in current assessment and claim set off in next years.