CBDT issues Instructions regarding Selection of Cases for issue of Notice u/s 148 of the Income Tax Act, 1961
1. The Central Board of Direct Taxes and Customs (CBDT) issued the Instructions regarding the selection of cases for the...
Articles
Relief To Senior Citizen From Filing Income Tax Return
Introduction:- Hon’ble FM Smt. Nirmala Sitaraman proposed in Budget 2021 that certain classes of Senior citizens who fulfill following conditions...
Set Off and Carry Forward of Losses
Set off of losses: Set off of losses means adjusting the losses against the profit or income of that particular...
Carry forward and set off of losses in case of change in constitution of firm or on succession
Section 78 of the Income Tax Act: Carry forward and set off of losses in case of change in constitution...
Section 75 of the Income Tax Act: Losses of firms
Section 75 of the Income Tax Act: Losses of firms: Where the assessee is a firm, any loss in relation...
Section 74A: Carry forward and set off of Losses under the head “Income from other sources”
Carry forward of losses: After making the appropriate and permissible intra-head and inter-head adjustments, there could still be unadjusted losses....
Section 74: Carry forward and Set off of Losses under the head “Capital gains”
Carry forward of losses: After making the appropriate and permissible intra-head and inter-head adjustments, there could still be unadjusted losses....
Section 73A: Carry forward and set off of losses by specified business
Carry forward of losses: After making the appropriate and permissible intra-head and inter-head adjustments, there could still be unadjusted losses....
Section 73 of the Income Tax Act: Carry forward and set off Losses of speculation business
After making the appropriate and permissible intra-head and inter-head adjustments, there could still be unadjusted losses. These unadjusted losses can...
Carry forward and set off of business losses: Section 72 of the Income Tax Act
Losses from Non-speculative Business (regular business) loss : Can be carry forward up to next 8 assessment years from the...