• Aug 17, 2026
• 7 min read

How to Account for Losses: Offsetting and Carrying Forward Losses in Income Tax Filing

Learn how to manage losses in income tax filing through set-off and carry forward rules, with practical examples for business, property and capital losses.

Losing money in a business or investment is never pleasant, but from an income-tax perspective, a genuine loss does not always mean the money is completely lost for tax purposes. The Income Tax Act provides specific rules that allow eligible losses to be adjusted against income and, in certain cases,...

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