Exceptions to the losses can be carried forward for eight assessment years

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....t any time limit. • Unabsorbed depreciation - can be carried forward indefinitely • If business was discontinued and there is income chargeable under section 38 in respect of such discontinued business, then business loss of the previous year in which business was discontinued can be SET OFF against such incomes. • Section 116: - In case of amalgama....

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.... forward for more than eight Assessment years. Under Income Tax Act, 1961 [ Upto 31.03.2026 ] • Section 35AD: Loss of business which is specified under section 35AD can be carried forwards without any time limit. • If business was discontinued and there is income chargeable under section 41(1)/ 41(3)/ 41(4) in respect of such discontinued business, then business loss o....