Loss on House property carry forward??

POSTED BY Ankur ON July 17, 2012 6:33 pm ONE COMMENT

I filed the ITR for FY10-11 on 28th July 2011 through e-filing i.e. within due date . But I forgot to claim rebate for home loan benefit.

Now

1. Can I revise my return? Answer I could find through various sources is No. Reason : ITR can be revised if the IT dept. has not completed assessment and before completion of assessment year whichever is earlier. In my case both the dates has passed and hence could not revise.

2. Can I file it under rectification u/s 154. Answer I could get is No. Since Rectification manual Step5 reads “there should not be any revision in income figures or new claims since then the rectification request would be rejected or rectification would be delayed. It may be clearly noted that this facility is only for correcting mistakes apparent from record. ”

3. Can I carry forward my losses to the current financial year? I am not sure since normally carry forward is allowed only if the loss could not be offset in original year completely.

Please help.

Regards,

Ankur

One reply on this article “Loss on House property carry forward??”

  1. Dear Ankur, in your case, the3 end of AY is 31-03-2013, so you can still file your revised ITR.

    thanks

    Ashal

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