https://www.taxtmi.com/acts?id=47068 Substitution of section 74 provides that losses under the head Capital gains not set off under section 71 shall be carried forward and set off only against capital gains in subsequent years, with any unabsorbed portion carried forward further; carry forward is limited to eight succeeding assessment years. Transitional rules require short-term capital losses computed for the 1987 assessment year or earlier to follow the new carry-forward rules, while long-term capital losses are first reduced by deductions under section 48(2) and then carried forward but not beyond the fourth succeeding assessment year. en-us Tue, 07 Jan 2025 12:27:34 +0530 Tue, 07 Jan 2025 12:27:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=47068 Substitution of section 74 provides that losses under the head Capital gains not set off under section 71 shall be carried forward and set off only against capital gains in subsequent years, with any unabsorbed portion carried forward further; carry forward is limited to eight succeeding assessment years. Transitional rules require short-term capital losses computed for the 1987 assessment year or earlier to follow the new carry-forward rules, while long-term capital losses are first reduced by deductions under section 48(2) and then carried forward but not beyond the fourth succeeding assessment year. Act-Rules F. Acts / Amendment Acts Tue, 07 Jan 2025 12:27:34 +0530 https://www.taxtmi.com/acts?id=47068