https://www.taxtmi.com/acts?id=49113 Losses from owning and maintaining race horses cannot be set off against income from other sources; unabsorbed losses may be carried forward and set off only against income from that specified activity, only while the activity is continued, and only for up to four succeeding tax years. Defined terms include income by way of stake money, loss incurred in the specified activity (expenditure wholly and exclusively for maintaining race horses excluding capital expenditure), race horse, specified activity, and unabsorbed loss. en-us Fri, 14 Feb 2025 16:55:05 +0530 Thu, 20 Feb 2025 12:24:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49113 Losses from owning and maintaining race horses cannot be set off against income from other sources; unabsorbed losses may be carried forward and set off only against income from that specified activity, only while the activity is continued, and only for up to four succeeding tax years. Defined terms include income by way of stake money, loss incurred in the specified activity (expenditure wholly and exclusively for maintaining race horses excluding capital expenditure), race horse, specified activity, and unabsorbed loss. Act-Rules Bills Fri, 14 Feb 2025 16:55:05 +0530 https://www.taxtmi.com/acts?id=49113