Loss carry forward: You can carry forward certain specified losses like from house property, business, etc and then set it off from income in future assessment years. Applying this concept allows you to reduce your net tax outgo by reducing your total taxable income in the year where you set off the loss with income. Read below to know which losses can be carried forward and up to how many years.
from Tax-Wealth-Economic Times https://ift.tt/Utzr2Rx
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