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        Income Tax

        Section 114 - Set off and carry forward of losses computed in respect of specified business.

        Income-tax Act, 2025
        Chapter VII
        SET OFF, OR CARRY FORWARD AND SET OFF OF LOSSES

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        Set off of losses in specified business must be against other specified business profits; excess losses carry forward annually. Losses computed in respect of a specified business must be set off only against profits and gains of another specified business; any portion not so set off shall be carried forward to the following tax year and set off against profits of specified business then carried on, with any remaining unrelieved loss carried forward similarly to subsequent years.
                    Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                      Provisions expressly mentioned in the judgment/order text.

                          Set off of losses in specified business must be against other specified business profits; excess losses carry forward annually.

                          Losses computed in respect of a specified business must be set off only against profits and gains of another specified business; any portion not so set off shall be carried forward to the following tax year and set off against profits of specified business then carried on, with any remaining unrelieved loss carried forward similarly to subsequent years.


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