As we gear up for 2024-25, it’s important that you know how you can utilise your losses in the best possible manner to save on taxes. The Indian Income Tax Act of 1961 has rules that let you reduce your tax liability by setting off losses against gains and carrying them forward strategically. In this guide, we’ll break down the details in an easy-to-understand way to help you make smart tax decisions. Understanding Different Incomes The Income Tax Act divides income into various sections. Whether it’s your salary, earnings from a property, business profits, gains from selling something (like a …
Set-off & Capital Loss Carry Forward To Save Taxes: A Comprehensive Guide
![Set-off & Capital Loss Carry Forward To Save Taxes: A Comprehensive Guide](https://daycoindia.com/blog/wp-content/uploads/2024/01/01Income-tax-blog-12-01.png)