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Income Tax efiling in India for FY 2023-24 (AY 2024-25)

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Go and Continue For Loss

Profits and losses on both sides of the coin. Of course, losing is hard to digest. However, the Income-tax law in India gives taxpayers some benefits of recovering losses as well. The Act contains provisions for departure and for the advancement of losses discussed in detail in this article.

The set of loss

Stop loss means to adjust the loss compared to the gain or income for that year. Unplanned losses compared to income in the same year can be transferred in subsequent years to reduce the revenue for those years. The setting can be an intra-head setting or an inter-head setting.

Frequently asked questions

After performing the correct and appropriate adjustment of the intra-head and inter-head, there may still be unjust losses. These adjusted losses may be continued in the coming years for adjustment compared with the current income. Rules for advancement vary slightly from different salary points. This is discussed here

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