Carry forward loss

If the previous financial year trading loss is not filed in that corresponding year, will that can be filed in this year as carry forward loss?

No, you cannot file the previous year trading loss as this year.
To carry forward the trading loss - you should file the return within the due date of filing the original return.

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Hey @jithin_giri

A taxpayer cannot carry forward losses to future years if the income tax return for the year in which loss is incurred is not filed on the Income Tax Website within the due date as per Section 139(1).

If you want to carry forward your trading losses, it is mandatory for you to file your return within the due date of that original year in which the loss occurred.

Hope this helps! :slight_smile:

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