Please Help: Income Tax
Posted Date : 16-May-2013 , 01:44:57 pm | Posted By: Sandeep Kaushik
Category :
Income Tax | Answers :
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Hello Everyone,
I want to know that can a assesse claim deduction under section 24b of income tax act 1961, if he filled his return of income After Due date i.e Billated Return. plz reply as early as possible.
Thanks in advance...........
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Answers:
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 Answer by: Rishabh Upadhyay |
| Yes, there is no specific restriction for claiming deduction under section 24b. However the law prohibit us from filing a loss return after thedue date. Hence taking both the points in mind you can claim deduction u/s 24b in your belated return provided it does not lead to bringing down your total income to negative.
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| Answer by: Rishabh Upadhyay |
| ie,, you mush have some other income which will cover up the total deduction claimed under section 24b
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| Answer by: CA Pardeep Chanana |
| As per section 139(3) only PGBP & Capital Losses cannot be carried forward if the income tax return is not filled on or before the due date. There is no restriction on carryforward of losses under the head house property on late filling of return.So for sure you may take the deduction u/s 24b in case of belated return.
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| Answer by: CA Satuti Mahajan |
| yes
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