Comparison of Section 114 "Set off and carry forward of losses computed in respect of specified business." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)
2 September, 2025
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Set-off restriction for specified business losses limits use to profits of other specified business activities only. Losses computed in respect of a specified business carried on by the assessee in a tax year may be set off only against profits and gains of other ... Summary
Set-off restriction for specified business losses limits use to profits of other specified business activities only.
Losses computed in respect of a specified business carried on by the assessee in a tax year may be set off only against profits and gains of other specified business activities for that year; any portion not so set off is an unabsorbed loss that may be carried forward and set off only against profits and gains of specified businesses in subsequent years.
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