{"id":12559,"date":"2020-05-10T04:34:38","date_gmt":"2020-05-10T04:34:38","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=12559"},"modified":"2024-06-04T11:37:15","modified_gmt":"2024-06-04T06:07:15","slug":"set-off-and-carry-forward-of-losses-under-income-tax","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/set-off-and-carry-forward-of-losses-under-income-tax\/","title":{"rendered":"Set-Off and Carry Forward of Losses \u2013 Under Income Tax"},"content":{"rendered":"<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"padding: 10px;\"><strong>Table of Content<\/strong><\/p>\n<ul>\n<li><a href=\"#what\">What does set-off of loss means?<\/a><\/li>\n<li><a href=\"#intra\">Intra-head Set Off<\/a><\/li>\n<li id=\"what\"><a href=\"#exception\">Exception of Intra-head set-off<\/a><\/li>\n<li><a href=\"#inter\">Inter-head Set-Off<\/a><\/li>\n<li><a href=\"#inter-head\">Exception of Inter-head set-off<\/a><\/li>\n<li><a href=\"#carry\">Carry forward losses and set-off<\/a><\/li>\n<li><a href=\"#order\">Order of set-off of losses<\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3 style=\"color: #1e82b6; font-size: 20px !important; text-align: justify;\">What does set-off of loss means?<\/h3>\n<p style=\"text-align: justify;\">Set off of losses means adjusting the losses of current year or previous year against the profit or income of the current year. If loss of the one year is not set off against the income of the same year than that loss can be carried forward to the subsequent years for set off against income of those years.<\/p>\n<p style=\"text-align: justify;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-40396 size-full\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Set-Off-and-Carry-Forward-of-Losses-Under-Income-Tax-1.png\" alt=\"\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Set-Off-and-Carry-Forward-of-Losses-Under-Income-Tax-1.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Set-Off-and-Carry-Forward-of-Losses-Under-Income-Tax-1-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Set-Off-and-Carry-Forward-of-Losses-Under-Income-Tax-1-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Set-Off-and-Carry-Forward-of-Losses-Under-Income-Tax-1-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Set-Off-and-Carry-Forward-of-Losses-Under-Income-Tax-1-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Set-Off-and-Carry-Forward-of-Losses-Under-Income-Tax-1-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p style=\"text-align: justify;\">Set-off losses can be of two types:<\/p>\n<p id=\"intra\" style=\"text-align: justify;\"><img decoding=\"async\" class=\"alignnone wp-image-12560 size-full\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Add-a-subheading-3.png\" alt=\"\" width=\"1051\" height=\"563\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Add-a-subheading-3.png 1051w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Add-a-subheading-3-300x161.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Add-a-subheading-3-1024x549.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Add-a-subheading-3-768x411.png 768w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Add-a-subheading-3-615x329.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Add-a-subheading-3-400x214.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Add-a-subheading-3-292x156.png 292w\" sizes=\"(max-width: 1051px) 100vw, 1051px\" \/><\/p>\n<h3 style=\"color: #1e82b6; font-size: 20px !important; text-align: justify;\">Intra-head Set Off<\/h3>\n<p id=\"exception\" style=\"text-align: justify;\">Intra head set-off means the losses of the one source of income will be set off against income from another source under the same head of income.<\/p>\n<p style=\"text-align: justify;\">Example: Loss of Business A can be set off against profit of Business B, where Business A is one source and Business B is another source and the common head of income is \u201cincome from business and profession\u201d.<\/p>\n<h3 style=\"color: #1e82b6; font-size: 20px !important; text-align: justify;\">Exception of Intra-head set-off<\/h3>\n<ol style=\"text-align: justify;\">\n<li>Long term capital loss<\/li>\n<li id=\"inter\">Loss from speculative business<\/li>\n<li>Loss from owing and maintaining race horse<\/li>\n<li id=\"inter-head\">Loss from business specified under section 35AD will be set-off against specified business<\/li>\n<\/ol>\n<h3 style=\"color: #1e82b6; font-size: 20px !important; text-align: justify;\">Inter-head Set-Off<\/h3>\n<p style=\"text-align: justify;\">Inter head set-off means loss under one head will be allowed to set-off against the income for that assessment year under any other head.<\/p>\n<h3 style=\"color: #1e82b6; font-size: 20px !important; text-align: justify;\">Exception of Inter-head set-off<\/h3>\n<ol style=\"text-align: justify;\">\n<li>Losses under head Income from business or profession will not be set-off against salary income<\/li>\n<li>Loss of business specified under section 35AD can be set off only against specified business<\/li>\n<li>Losses under Capital gain cannot set-off against any other head income<\/li>\n<li>Loss from activity of owning and maintaining of horses cannot be set-off against any other type of income.<\/li>\n<li>Loss under head income from house property can be set-off against any other head income only to the extent of 2lakhs. That means maximum loss from house property which can be set-off against the income of any other head is 2lakh.<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">For better understanding we have summed up the tabular summary for adjustment of losses where yes denotes that the losses can be adjusted and no denotes the opposite<\/p>\n<table style=\"border: 1px solid #ddd; text-align: left; margin-left: 15px;\" width=\"100%\">\n<tbody>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Incomes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Long term capital loss<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Short term capital loss<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Loss from owning and maintenance of race horses<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Loss under the head House Property<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Speculative business loss<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Other business or professional loss<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Salary<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>House Property<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\" width=\"88\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Non Speculative Business<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Speculative Business<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>LTCG<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>STCG<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<\/tr>\n<tr id=\"carry\">\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Owning &amp; maintenance of race horses<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Others<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">No<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Yes<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3 style=\"color: #1e82b6; font-size: 20px !important; text-align: justify;\">Carry forward losses and set-off<\/h3>\n<p style=\"text-align: justify;\"><strong>House Property (Section 71B)<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/www.cagmc.com\/set-off-carry-forward-of-losses-under-income-tax-act-1961\/\">Losses of house property<\/a> can be set-off in the same assessment year from the income of any other head<\/li>\n<li>Loss of house property can be carry forward up to next 8 assessment years from the assessment year in which the loss was incurred. And will be adjusted only against Income from house property<\/li>\n<li>Losses of house property can be carried forward even if the return of income for the loss year is belatedly filed.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Business losses (Section 72)<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>Loss of \u201cProfit and gain from business or profession\u201d PGBP other than loss from speculation business can be set off against any other heads income in the same assessment year<\/li>\n<li>And if such loss cannot be set-off against income from any other head the loss shall be carried forward to the following assessment years and it shall settled against the income from business and profession<\/li>\n<li>The loss from business and profession can be carried and set off against the profit of the assesse who incurred the loss. That means the person who has incurred the loss will entitled to carry forward the loss and set-off the same<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Loss of business or profession can be carry forward up to next 8 assessment years from the assessment year in which the loss was incurred. And will be adjusted only against profit and gains from business and profession<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>As per section 80, the assesse must have filled a return of loss u\/s 139(3) in order to carry forward and set off a loss<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Loss in speculation business (Section 73)<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>The loss from speculation business can be set-off only against the income of speculation business<\/li>\n<li>The loss if not fully set-off against the income of speculation business can be carry forward up to the next 4 assessment year from the year of loss.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong><em>Speculation transaction means <\/em><\/strong><strong>a transaction which:<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>Contract of purchase and sale of commodity including stock and shares other than actual delivery r transfer of commodity or stock<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Losses of business specified u\/s 35AD (Section 73A)<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>Loss of any business specified u\/s 35AD shall be allowed to be set-off against the income of any other specified business under PGBP<\/li>\n<li>If loss of the assessment year is not set-off fully against the profit of the assessment year shall be allowed to carry forward the loss up to the \u201cn\u201d numbers of year (without limit) and can be set-off against the income from the specified business u\/s 35AD.<\/li>\n<li>This means the loss of specified business cannot be set off against the income of any other non-specified business not in current year.<\/li>\n<li>The losses can be carried forward in the following year even if the assesse has not filed the return of losses (section 80)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Losses under Capital gain (Section 74)<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>Loss of Capital gain will be set-off against the income of the same head under in respect of any other capital gain income<\/li>\n<li>Long term capital gain will be set-off with only <a href=\"https:\/\/cleartax.in\/s\/equity-funds-ltcg-taxation#:~:text=The%20long%2Dterm%20capital%20gains,sale%20of%20listed%20equity%20shares.\" target=\"_blank\" rel=\"noopener\">long term capital gain<\/a> and not from other<\/li>\n<li>Short term capital gain can be set-off from both shot as well as long term capital gain<\/li>\n<li>If loss of capital gain is not set-off from the profit of current year can be carried forward the loss to the following year up to 8 years from assessment year loss is computed.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Loss of other source (Section 74A)<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>The loss of owning and maintaining race horses shall be set-off only against the income of owing and maintain race horses in that year and shall be carried forward to the following assessment years<\/li>\n<li>It shall be set off against the income from the activity of owing and maintaining race horse assessable for the A\/Y provided that the activity of owning and maintain race horse is carried on be him in the P\/Y relevant for that A\/Y<\/li>\n<li>If losses are not set-off fully in the current year can be carried forward up to 4 years from the assessment year of loss.<\/li>\n<\/ul>\n<table>\n<tbody>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>S.no.<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Nature of loss to be carried forward<\/strong><\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\"><strong>Maximum permissible period [from the end of the relevant assessment year] for carry forward of losses<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">1<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Unabsorbed loss from house property<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">8 assessment years<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">2<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Unabsorbed business loss (non- speculative)<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">8 assessment years<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">3<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Loss from speculation business<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">4 assessment years<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">4<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Loss from specified business under section 35AD<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Indefinite period<\/td>\n<\/tr>\n<tr id=\"order\">\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">5<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Long-term capital loss<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">8 assessment years<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">6<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Short-term capital loss<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">8 assessment years<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">7<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">Loss from the activity of owning and maintaining race horses<\/td>\n<td style=\"padding: 9px; border: 1px solid #ddd; text-align: left; font-size: 16px;\">4 assessment years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3 style=\"color: #1e82b6; font-size: 20px !important; text-align: justify;\">Order of set-off of losses<\/h3>\n<p style=\"text-align: justify;\">As per section 72(2), brought forward business loss is to be set-off before setting off unabsorbed depreciation. Therefore, the order in which carry forward and set-off is as follows:<\/p>\n<p style=\"text-align: justify;\"><img decoding=\"async\" class=\"alignnone wp-image-12563 size-full\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104.png\" alt=\"\" width=\"1350\" height=\"753\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104.png 1350w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104-300x167.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104-1024x571.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104-768x428.png 768w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104-1260x703.png 1260w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104-615x343.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104-400x223.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104-292x163.png 292w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2020\/05\/Screenshot-104-1320x736.png 1320w\" sizes=\"(max-width: 1350px) 100vw, 1350px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Table of Content What does set-off of loss means? Intra-head Set Off Exception of Intra-head set-off Inter-head Set-Off Exception of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":40396,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[69],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Set-Off and Carry Forward of Losses \u2013 Under Income Tax<\/title>\n<meta name=\"description\" content=\"Read about Set-Off and Carry Forward of Losses \u2013 Under Income Tax, What does set-off of loss means? 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