Which loss can be carry forward under income tax act?
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Set-off of losses means adjusting the losses against the profit or income of that particular year. Losses that are not set off against income in the same year can be carried forward to the subsequent years for set off against income of those years. Following losses can be carried forward under the iRead more
Set-off of losses means adjusting the losses against the profit or income of that particular year. Losses that are not set off against income in the same year can be carried forward to the subsequent years for set off against income of those years.
Following losses can be carried forward under the income tax act 1961
Losses from House Property
Losses from Non-Speculative Business (Regular Business) Loss
Speculative Business Loss
Specified Business Loss under 35AD
Capital Losses
Losses from owning and maintaining race-horses
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