Allowability and Rule of Carry Forward and Set off Of Losses Under Income Tax Law

Allowability and Rule of Carry Forward and Set off Of Losses Under Income Tax Law

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Author : Ram Dutt Sharma
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This edition of Allowability & Rules of Carry Forward & Set Off of Losses under Income Tax Law, authored by Ram Dutt Sharma, serves as a detailed and practical reference for understanding the statutory provisions, conditions, and procedural rules governing the carry forward and set-off of losses under the Income Tax Act, 1961. It incorporates the latest legislative updates, judicial interpretations, and CBDT clarifications to provide a complete compliance roadmap for taxpayers and professionals.


The book presents the law in a clear, structured, and practice-oriented manner, covering the interplay of various provisions, timelines, and eligibility conditions. It also includes relevant case law to illustrate the practical application of these provisions in real-life scenarios.


The content covers the full scope of carry forward and set-off provisions, including:

• Classification of losses – business, speculation, capital, house property, and others

• Conditions for set-off of current year losses against other heads of income

• Rules for carry forward of unabsorbed losses and allowances

• Inter-head and intra-head set-off provisions under the Act

• Time limits and procedural compliance for claiming carry forward

• Treatment of unabsorbed depreciation and investment allowance

• Set-off restrictions in cases of change in constitution or ownership

• Provisions for amalgamations, demergers, and reorganization of companies

• CBDT circulars and instructions on carry forward and set-off rules

• Landmark judicial rulings interpreting these provisions

• Compliance checklists and illustrative examples


This edition is particularly suitable for:

• Chartered accountants, tax practitioners, and corporate finance professionals

• Businesses and corporate taxpayers managing loss adjustments

• Law students and academicians specialising in tax law

• Taxpayers seeking clarity on compliance for loss set-off and carry forward


Whether for professional practice, corporate compliance, or academic study, this updated edition offers an authoritative and comprehensive guide to mastering the provisions on carry forward and set-off of losses under the Income Tax Act, 1961.

 

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Shipping & Returns

Shipping
Orders are shipped within 3–5 working days (exceptions may occur). Deliveries within Delhi usually take 3–5 working days post-shipment, while deliveries outside Delhi may take 4–5 working days. International shipping is not available at present. Once your package has been dispatched, you will receive a confirmation email with a tracking number to monitor your order.

Returns
We do not accept returns or exchanges for books once sold. A return or replacement is only possible if the book delivered is damaged or if the wrong book has been sent. In such cases, customers are requested to contact us within 7 days of delivery with order details and proof (such as a photo of the book). Refunds will be processed once the returned books are received and inspected, and the amount will be credited in the original form of payment within 7 working days. Shipping charges will not be refunded unless the return is due to our error.

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We accept payments via Debit Cards, Credit Cards, UPI, Net Banking, and Cash on Delivery (COD) for your convenience.

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We accept payments via Debit Cards, Credit Cards, UPI, Net Banking, and Cash on Delivery (COD) for your convenience.

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Your payment information is processed securely. We do not store your card details nor have access to your payment information.

We accept payments via Debit Cards, Credit Cards, UPI, Net Banking, and Cash on Delivery (COD) for your convenience.

About the author

Ram Dutt Sharma

Ram Dutt Sharma

Ram dutt sharma was born on 27th June, 1958 in Narnaul, Haryana. He got his post-graduate from M.D. University, Rohtak in 1980. He Join the Income Tax Department in the year 1983 and retired as Income Tax Officer on 30-06-2018, He Worked at Various Stations of North-West Region of Income Tax Department. He has wide Experience of all wings of Income Tax Department such as Assessment Units Special Range, TDS Wing, Investigation Wings etc. He has been Contributing articles and addressing on Topics Relating to Income Tax at NADT Regional Campus, Chandigarh & Bhopal. He has also addressed number of seminars Organized by the Income Tax Department, Chartered Accountants Advocate and various Trade Associations.

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