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SET OFF AND CARRY FORWARD LOSSES

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(Querist)
27 August 2021 IF SOMEONE HAVE CARRY FORWARD LOSSES IN HIS RETURN BUT IN CURRENT YEAR HE WANTS TO SET-OFF PARTIAL LOSSES AND DECLARE SOME INCOME.

IS IT POSSIBLE TO DECLARE INCOME WITH HAVING CARRY FORWARD LOSSES.

AND CONTINUE CARRY FORWARD LOSSES.
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VANAJA RANI

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VANAJA RANI (Expert)
27 August 2021 Yes In return we can partially set off but remember to claim whole losses as per the limits & prescribed period only.

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