Section 139(3) → Section 152(3)
Return of loss
Quick Answer
Section 139(3) of the Income Tax Act, 1961 (Return of loss) corresponds to Section 152(3) of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 139(3)
Provision Summary
Mandates that to carry forward business or capital losses, the ITR must be filed strictly on or before the original due date under 139(1).
Sec 152(3)
Provision Summary
Retained verbatim. The portal algorithms strictly lock the carry-forward schedules if the return timestamp crosses the due date.
Key Changes & Highlights
- No exceptions allowed. Digital timestamps are absolute proof of filing time.
Related Sections
Frequently Asked Questions
What does Section 139(3) of the Income Tax Act 1961 deal with?
Section 139(3) (Return of loss) Mandates that to carry forward business or capital losses, the ITR must be filed strictly on or before the original due date under 139(1).
What is the new section number for Section 139(3) under the Direct Tax Code 2025?
Section 139(3) of the ITA 1961 maps to Section 152(3) of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 139(3) under the new tax code?
Section 139(3) is marked as "Retained" with status "Active". Impact: High - A missed deadline permanently destroys capital and business loss benefits.
What are the key changes to Section 139(3) under DTC 2025?
No exceptions allowed. Digital timestamps are absolute proof of filing time.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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