Carry forward and set off of business loss - Section 72

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....ny other head or the income was less than the loss, then such loss can be carried forward to the following AYs and can be set off only against the PGBP income. The losses can be carried forward till 8 Assessment Years. Notes: * Business losses can be adjusted only against business income. * Loss can be carried forward even if business has been discontinued. * Losses can be set off only by t....