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of <h1>Section 74: Carried-forward short-term and long-term capital losses set off against same-type capital gains, carried forward up to eight years</h1> Losses under the head 'Capital gains' that cannot be fully set off in the year incurred are carried forward to subsequent years. Carried-forward short-term capital losses may be set off only against other capital gains assessable in that year; carried-forward long-term capital losses may be set off only against long-term capital gains. Any loss remaining after set off is carried forward further, but no loss may be carried forward for more than eight immediate succeeding tax years from the year of its computation.
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