| Set off and carry forward of losses at a glance | |||||||
| CARRY FORWARD & SET -OFF OF LOSSES: | Set-off During the year | Carry Forward & Set - off Next years | Filing of Return u/s 139(1) for carry forward mandatory | ||||
| Same Head | Another Head | Against | C/F | Years | Agst Profits | ||
| From | |||||||
| 1. House Property | Yes | Yes | - | Yes | 8 | same head | No |
| 2. Speculation Business | Yes | No | From | Yes | 4 | Same/ | Yes |
| Speculation | another | ||||||
| Profits | Speculation | ||||||
| Business | |||||||
| Unabsorbed Depreciation / | Yes | Yes | any | Yes | No Limit | any income | No |
| Cap Exp on SR | income | (other than | |||||
| salary) | |||||||
| Non-speculative Business | Yes | Yes | Any | Yes | 8 | same head | Yes |
| or Profession | (except | Business | |||||
| salary) | Profits | ||||||
| 3. Long Term Capital | Yes | No | LTCG | Yes | 8 | LTCG | Yes |
| Losses | |||||||
| Short Term Capital Losses | Yes | No | STCG/LTCG | Yes | 8 | STCG/LTCG | Yes |
| 4. Owning / Maintaining | Yes | No | same item | Yes | 4 | same item | Yes |
| race horses | |||||||
| 5. Income from Other | Yes | Yes | NA | No | NA | NA | NA |
| Sources (except if exempt) | |||||||
| 6. Specified Business u/s | Yes | No | Specified | Yes | No Limit | Any Specified | No |
| 35AD | Business Profits | Business | |||||
CAclubindia
