Set off and Carry Forward Losses

Set off of losses under the same head of income If there is a loss from any source of income under any head, then it is to be set off against income from any other source under the same head. The exceptions to this rule are Loss from speculation business-

S.No. Type of loss to be carried forward to next year(s) Profits Against which loss can be set off in the same year Profit 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