Carry forward and set off of losses by specified business referred in Section 35AD - Section 73A - Income Tax - Ready Reckoner - Income Tax

Carry forward and set off of losses by specified business referred in Section 35AD - Section 73A Loss of specified business of section 35AD of any AY is allowed to be set off in current year and future years only against the profits of any specified business referred to in section 35AD . Loss of specified business referred in 35AD carried forward indefinitely till it is set off. The loss can be carried forward and set off for infinite number of years. The return of loss must have been furnished before the due date prescribed u/s 139(1) , otherwise the loss cannot be carried forward. Further losses can be set off only if return filed within due date of section 139(1) .