Carry Forward of Loss

Tax Glossary Definition

Carry Forward of Loss

Carry forward of loss refers to the provision under the Income Tax Act that allows a taxpayer to use losses incurred in one financial year to offset profits of future years. This helps reduce the tax burden in profitable years and ensures fair taxation over time. Different types of losses (like business loss, capital loss, or house property loss) have specific rules and time limits for carry forward and set-off.

Example: A business loss of ₹2 lakh in FY 2024–25 can be carried forward and set off against future business profits for up to 8 assessment years.

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