Mint says belated ITR can limit loss carry-forward
In short
Mint Money says filing your ITR late does not remove every tax benefit, but it can change which losses you can carry forward for AY 2026-27. The note points to capital losses and house-property losses.
That matters because it can affect how much tax people can offset later. The story does not list every allowed or disallowed case.
What the reporting says
Mint Money says missing the ITR deadline does not erase every tax benefit, but filing a belated return can affect which losses taxpayers may carry forward. The summary specifically mentions capital losses and house-property losses, and says readers need to know the rules for AY 2026-27. The immediate consequence is a possible reduction in tax offsets, while the exact eligibility rules are not fully detailed here.
Why it matters
The reporting focuses on belated income tax return filing for AY 2026-27 and the impact on loss carry-forward rules. It says taxpayers with capital and house-property losses should check what remains eligible if they miss the deadline. No specific tax rate, deadline, or example case is given, so the practical effect is limited to the general warning that some losses may not be usable later.