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Benefits of filing taxes: #3 Carry forward losses

Benefits of filing taxes: #3 Carry forward losses

Monday, April 17, 2017, 5:56 PM

If you have incurred a loss from specified sources of income, you can carry forward the same to subsequent 8 years for set off against other income from the same head of income. You would be eligible to claim such carry forward of losses and set off in subsequent years only if you have filed your return within the prescribed due dates.
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