Carry forward of losses

Can loss be carried forward only by the person, who has incurred the loss? Its urgent....................................................

Replies (3)

Generally yes.  However there are some exceptions sec 78(2)

1. by way of inheritance -  If a person dies then his legal heir can carry and setoff loss in balance no. of years. (however unabsorbed depreciation can't be c/f)

2. amalgamation - refer section 72A, 72AA, 72AB

3. Succession of proprietary concern or firm by company - refer sec 47(XIII), 47(XIV)

4. Demerger

in some cases no.

Loss can be generally carried forward by the same person. however there is an  exception to the rule i.e in case of inheritance, Also the Act provides special cases such as Amalgamation, demerger,sucession of proprietary firm or concern by company (subject to the fulfillment of conditions specified therein) where the successor can carryforward the loss.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details