Carry forward and set off of business loss - Section 72

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..... e under any other head or the income was less than the loss, then such loss can be carried forward to the following AYs and can be set off only against the PGBP income. The losses can be carried forward till 8 Assessment Years. Notes: Business losses can be adjusted only against business income. Loss can be carried forward even if business has been discontinued. Losses can be set off only by the a .....

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..... ch and current year expenditure on family planning. Third - brought forward business or profession losses [ Section 72(1) ] Fourth - unabsorbed depreciation [ Section 32(2) ] Fifth - unabsorbed capital expenditure on scientific research [ Section 35(4) ] Sixth - unabsorbed capital expenditure on family planning [ Section 36(1)(xi) ] - Manuals - Ready reckoner - Law and practice - Reference Guide .....

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