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of <h1>Eight-year carry-forward for capital gains losses retained; long-term losses vs long-term gains, short-term losses set off broadly</h1> Both versions establish an eight-year carry-forward regime for losses under 'Capital gains' with the same substantive set-off rule: long-term capital losses only against long-term capital gains, and short-term losses against any capital gains. The Bill explicitly defines 'unabsorbed capital loss' as a loss not wholly set off under the intra-year set-off provision and cross-references that sequencing, reducing ambiguity about when carry-forward applies; the enacted Section omits that defined term and explicit cross-reference but uses similar language implying the same sequencing. Differences are therefore primarily drafting and labeling, posing modest interpretive risk though practical tax outcomes remain largely unchanged.
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