Sr. No.
|
Section
|
Type of Loss
|
Set off Against Income
|
Can be carried forward for
|
In same Assessment Year
|
In subsequent Assessment Years
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(6)
|
1.
|
72
|
Business or Profession (Non-Speculation other than Depreciation)
|
Business Income Head; or any other head except salaries [Sec. 71(2A)]
|
Business Income Head (Note 1)
|
8 years
|
2.
|
32
|
Depreciation
|
As above
|
Business Income Head or any other head (Note 2)
|
Indefinitely
|
3.
|
73
|
Business (Speculation)
|
Speculation Profit
|
Speculation Profit
|
4 years with effect from Assessment Year 2006-07 (8 years up to assessment year 2005-06)
|
4.
|
70/74
|
Short-term capital loss
|
Capital gains
|
Capital gains
|
8 years
|
|
70/74
|
Long-term capital loss
|
Long-term capital gain
|
Long-term capital gain only
|
8 years
|
5.
|
74A
|
Running and Maintaining Race Horses
|
Such income only
|
Such income only
|
4 years
|
6.
|
71
|
Other sources
|
Other sources or any other head
|
No carry forward
|
N. A.
|
7.
|
71B
|
House Property:
- Let out property
- Self-occupied Property (On account of interest on borrowed capital)
|
Income from House property head or any other headAs above
|
Income from House propertyAs above
|
8 years
8 years
|
8.
|
72A/ 72AA/ 72AB
|
In case of amalgamation/demerger
|
Click here
|
|
|
9.
|
73A
|
Losses by specified Businesses (Note 5)
|
—
|
Business income of specified business
|
Indefinitely
|