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Anil

Anil Rego  |373 Answers  |Ask -

Financial Planner - Answered on Jul 13, 2021

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Dickson Question by Dickson on Jul 13, 2021Hindi
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While filing tax returns, I have forgotten to mention carried forward capital losses for the last 3 years. Returns were filed on time and assessment is complete. The revision time limit is over. 
Now, while filing returns for the next year, can I claim these losses or are they lost permanently on account of the above? 

Ans: Individuals can generally carry forward a tax loss for the stipulated period, but must claim a tax loss at the first opportunity. If you do not file your tax returns on time, you lose the benefit of carry forward of your taxes.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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