https://www.taxtmi.com/acts?id=4267 Carry forward and set off allows an assessee with a non speculation business loss that cannot be wholly set off to carry the unrelieved loss forward and set it off against profits and gains of any business or profession in subsequent assessment years; residual amounts are carried forward further. Losses attributable to a business discontinued and later re established within the specified period are carried to the year of re establishment and may be set off against that business or any other, with remaining amounts carried forward for up to seven succeeding years. Carry forward precedence is required before certain allowance carryforwards, and most losses are time barred after eight succeeding years. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 12:00:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4267 Carry forward and set off allows an assessee with a non speculation business loss that cannot be wholly set off to carry the unrelieved loss forward and set it off against profits and gains of any business or profession in subsequent assessment years; residual amounts are carried forward further. Losses attributable to a business discontinued and later re established within the specified period are carried to the year of re establishment and may be set off against that business or any other, with remaining amounts carried forward for up to seven succeeding years. Carry forward precedence is required before certain allowance carryforwards, and most losses are time barred after eight succeeding years. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4267