Category: Carry Forward and Set Off of Losses

Set Off or Carry Forward and Set Off of Losses under Sections 70 to 80 for Computation of Gross Total Income for the Assessment Year 2020-21

Carry Forward and Set Off of Losses for Gross Total Income

If the losses could not be set off under the same head or under different heads in the same assessment year,  such losses are allowed to be carried forward to be claimed as set off from the income of the subsequent  assessment years. All losses are not allowed to be […]

Read More

Set Off of Losses for Computing Gross Total Income

The provisions for set off or carry forward and set off of losses are contained in sections 70 to 80 of Income-tax Act and it involves the following three steps. Step 1: Inter source adjustments under the same head of income also known as intra head adjustment. Step 2: Inter-head […]

Read More

Tags

Categories

Archives

Translate:

Translate »