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of <h1>Clause 114 Introduces Refined Loss Adjustment Mechanism for Specified Business Categories with Strategic Tax Calculation Guidelines</h1> A structured mechanism for treating losses from specified businesses is outlined in Clause 114 of the Income Tax Bill, 2025, comparing it with Section 73A of the Income-tax Act, 1961. The provisions restrict set-off of losses to within the same business category, allowing carry forward of unabsorbed losses to subsequent years. Both aim to maintain tax calculation integrity and provide clear guidelines for businesses engaging in specified activities, with nuanced differences in scope and legislative context.
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