Carry forward of loss despite filing late return possible !


carry forward of lossesThe claim of carry forward of loss is attached to the condition that the income tax return should be submitted u/s 139(3)which clearly provides condition of filing return u/s 139(1) for carry forward of business loss or capital loss .It is also be noted that section 139(1) provides specific dates within which a certain type of return has to be submitted.

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