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      Question

      Which of the following losses can be carried forward

      even if the return is not filed within the due date?
      A Business loss Correct Answer Incorrect Answer
      B Capital loss Correct Answer Incorrect Answer
      C Speculation loss Correct Answer Incorrect Answer
      D Loss from house property Correct Answer Incorrect Answer

      Solution

      Explanation: Losses from  house property  (under Section 71B) can be carried forward for up to eight assessment years, even if the income tax return is filed after the due date (belated return). Other losses, such as business losses (speculative or non-speculative) and capital losses, require timely filing under Section 139(1) to be carried forward.

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