Carry forward of capital losses: limited temporal carry forward with distinct set off rules for long term and short term losses.
A statutory regime prescribes distinct set off rules for losses under the head Capital gains: short term capital losses may be set off against gains from any other capital asset, long term capital losses only against gains from other long term assets, and any residual loss after intra year set off qualifies for carry forward but only for a limited number of succeeding tax years; the Bill defined this residual as an unabsorbed capital loss, whereas the enacted provision omits that label but retains equivalent practical effect.