Section 139(3) requires you to file a return of loss in the same manner in case if you would have filed return of your income.
As per Section 80, you need to compulsory file your tax return of loss on or before the due date in order to carry forward your normal business losses, speculation business losses, losses under capital gains and losses from the activity of owning and maintaining race horses. Thus, set-off and carry forward such losses, you need to file your tax return before the due date.
Losses under the head Income from house property and unabsorbed depreciation can be carried forward and set-off even though the return of loss has not been filed on or before the due date.
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