Losses from one head of income can often be set off against other heads in the same year, with remaining losses carried forward for limited years if the return is filed on time.
Key rules
- House property loss set-off against other heads (with caps)
- Business loss carry-forward up to 8 assessment years
- Capital loss set-off only against capital gains
- File return by due date to preserve carry-forward
We reconcile losses in trading tax, business ITR, and belated return planning.
