{"id":3576,"date":"2018-02-28T17:27:30","date_gmt":"2018-02-28T11:57:30","guid":{"rendered":"https:\/\/www.hostbooks.com\/in\/?p=3576"},"modified":"2018-02-28T17:27:30","modified_gmt":"2018-02-28T11:57:30","slug":"section-74-losses-head-capital-gains","status":"publish","type":"post","link":"https:\/\/www.hostbooks.com\/in\/hb\/income-tax-act-1961\/section-74-losses-head-capital-gains\/","title":{"rendered":"Section &#8211; 74 : Losses under the head &#8220;Capital gains&#8221;"},"content":{"rendered":"<p>74.\t(1) Where in respect of any assessment year, the net result of the computation under the head &#8220;Capital gains&#8221; is a loss to the assessee, the whole loss shall, subject to the other provisions of this Chapter, be carried forward to the following assessment year, and\u2014<\/p>\n<p>(a)  insofar as such loss relates to a short-term capital asset, it shall be set off against income, if any, under the head &#8220;Capital gains&#8221; assessable for that assessment year in respect of any other capital asset;<\/p>\n<p>(b)  insofar as such loss relates to a long-term capital asset, it shall be set off against income, if any, under the head &#8220;Capital gains&#8221; assessable for that assessment year in respect of any other capital asset not being a short-term capital asset;<\/p>\n<p>(c)  if the loss cannot be wholly so set off, the amount of loss not so set off shall be carried forward to the following assessment year and so on.<\/p>\n<p>(2) No loss shall be carried forward under this section for more than eight assessment years immediately succeeding the assessment year for which the loss was first computed.<\/p>\n<p>(3) [Omitted by the Finance Act, 2002, w.e.f. 1-4-2003.]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>74. (1) Where in respect of any assessment year, the net result of the computation<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":68,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[803,446],"tags":[],"yst_prominent_words":[2051,816,1409,1790,460,1681,2114,2116,2113,528,2044,1677,2112,2031,2117,482,2046,2115,2026,2020],"_links":{"self":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/3576"}],"collection":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/comments?post=3576"}],"version-history":[{"count":0,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/3576\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/media?parent=3576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/categories?post=3576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/tags?post=3576"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/yst_prominent_words?post=3576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}