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of <h1>Business Losses: Carry Forward Indefinitely Under Section 35AD; Special Rules for Re-establishment, Amalgamation, and Depreciation.</h1> Losses can typically be carried forward for eight assessment years, but there are exceptions. Under Section 35AD, business losses can be carried forward indefinitely. If a business is discontinued, losses can be set off against income from sections 41(1), 41(3), or 41(4). Under Section 33B, if a business is re-established, losses can be carried forward to the year of re-establishment and subsequently for seven more years. Section 72A allows for losses to carry forward beyond eight years in cases of amalgamation, succession by a company, or conversion to an LLP, provided specific conditions are met. Unabsorbed depreciation can also be carried forward beyond eight years.
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