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3 171
ROI is required to be filed by every resident & ordinarily resident if
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Akash, who is 32 years old, has long-term capital gains on transfer of equity shares of Rs. 25,000 which is exempt u/s 112A & deduction of Rs. 80,000 u/s 80C. He has to file a ROI for AY 2019-20, only if his TI exceeds:
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As per section 139(1), an individual shall file income tax return if -
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As per section 139(1), filing of returns is compulsory (must) irrespective of whether profit is earned or loss is incurred, in case of -
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Section 80 prohibits _ of losses if ROL is not filed within DD of filing ROI u/s 139(1) but it does not prohibit
of losses.
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For AY 2019-20 the assessee suffered the loss u/h “house property” of Rs. 1,20,000. His business income for the same PY is Rs. 50,000. The due date of filing ROI is 31.7.2019 but he submitted his ROI on 9.9.2019. In this case the assesses :
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. If there is a loss u/h “house property”, it will be allowed to be carried forward if the assessee:
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. If the assessee has to carry forward the loss, the return of loss must be submitted.
