Return of Loss - Section 139(3)

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..... loss in the prescribed form and within the time allowed under section 139(1) . The following losses cannot be carried forward if the return of loss is not submitted in time - Section 80 Business loss u/s 72(1) Speculation business loss u/s 73(2) : Capital loss u/s 74(1) ; and Loss from the activity of owning and maintaining race horses u/s 74A(3) . However, disentit .....

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..... off or carry forward of losses. If an assessee has submitted a return of loss in response to a notice u/s 142(1) such loss cannot be carried forward unless it is a loss under the head income from house property. However unabsorbed depreciation can be carry forward in this case. Although the loss the current year cannot be carried forward unless the return of loss submitted before the due .....

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