TL Carry Forward

Carry Forward of losses

Carry Forward & Set Off of Losses

Type of loss to be carried forward & set off	Income against which carried forward loss can be set off in next year(s)	For how many years loss can be carried forward	Is it necessary to submit return of loss in time
Sec. 71B House property loss	Income under the head Income from house property	8 years	No
Sec. 72 Non-speculation business loss (other than depreciation etc.)	Any income under the head Profits & gains of business or profession (whether from speculation or otherwise)	8 years	Yes
Sec. 32(2) On account of unabsorbed depreciation, capital expenditure on scientific research and family planning	Any income other than Income under the head Salaries and winning from lotteries, etc.	Indefinite years	No
Sec. 73 Speculation loss	Income from speculation transaction	4 years	Yes
Sec. 73A Loss of specified business covered u/s 35AD	Income from any specified business	8 years	Yes
Sec. 74 Short term capital loss	Income under the head Capital gains	8 years	Yes
Sec. 74 Long term capital loss	Long Term Capital Gain	8 years	Yes
Sec. 74A Loss from activity of owing and maintaining race horses	Income from the activity of owing and maintaining race horses	4 years	Yes*

* Such source should be continued.