Enumerate the cases where a return of loss has to be filed on or before the due date specified u/s 139(1) for carry forward of the losses. Also…

First alternative As per section 139 (3) , an assessee is required to file a return of loss within the due date specified u/s 139 (1) for filing return of income. As per section 80, certain losses which have not been determined in pursuance of a return filed under section 139 (3) on or before the due date specified under section 139 (1) cannot be carried forward and set-off. Thus, the assessee has to file a return of loss under section 139 (3) within the time allowed u/s 139 (1) in order to carry forward and set off of following losses: loss under the head "Capital Gains",loss from activity of owning and maintaining race horses.business loss,speculation business loss andloss from specified business. However, following can be carried forward for set-off even if the return of loss has not been filed before the due date: Loss under the head “Income from house property” andUnabsorbed depreciation