According to section 80, no loss which has not been determined in pursuance of a return filed in accordance with the provisions of section 139(3), shall be carried forward. The exceptions to this are:

CS Executive · Tax Laws · PYQS · June 2024
According to section 80, no loss which has not been determined in pursuance of a return filed in accordance with the provisions of section 139(3), shall be carried forward. The exceptions to this are:
(A) Loss from specified business under section 73A
(B) Loss under the head "Capital Gains" and unabsorbed depreciation carried forward under section 32(2)
(C) Loss from house property and unabsorbed depreciation carried forward under section 32(2)
(D) Loss from speculation business under section 73

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax

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