income tax

snpathak (Querist) 26 November 2009 This query is : Resolved
can we revise loss retun for a.y. 2007-2008 in the month of march2009 if our original return was not furnished
within time. loss will be allow during the year.can loss be carry forward for next year.

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A V Vishal (Expert) 26 November 2009
Revised return cannot be deemed to be in time if the original return is not furnished on or before the due date for filing returns, however, any loss on account of unabsorbed depreciation can be carried forward but not cash loss if the return is belated.

Raj Kumar Makkad (Expert) 26 November 2009
The opinion of Vishal is correct.

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