Loss Carry Forward
Definition
Ability to carry forward business losses or capital losses to future financial years to set off against future profits or gains.
In Context
Business losses carry forward for 8 years (set off only against business income). Capital losses carry forward for 8 years (set off only against capital gains). Must file ITR on time in the year of loss to be eligible for carryforward.
Related Terms
Want this in plain language?
Ask Kuber.AI to explain how Loss Carry Forward works, in the language you think in.
Download Kuber.AI
⚠️ Disclaimer: This glossary is for educational purposes. Simplify Money provides analytical insights and guidance. We have applied for SEBI RIA registration.