If the income of the year in which loss is incurred falls short, and taxpayer is unable to adjust entire loss, then can the taxpayer carry forward the unadjusted loss for adjustment in next year?

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, DHRUV MEHANDRU 4 months 1 Answer 42 views 0

Answer ( 1 )

  1. ​Many times it may happen that after making intra-head and inter-head adjustments, still the loss remains unadjusted. Such unadjusted loss can be carried forward to next year for adjustment against subsequent year(s)’ income. Separate provisions have been framed under the Income-tax Law for carry forward of loss under different heads of income (refer next FAQ for more provisions in this regard).​​

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