How to add your Losses?

Loss remaining after set off is the loss that taxpayers can carry forward to future years to set off against future incomes.

The  taxpayer must file the original ITR within the due date as per Section 139(1) to carry forward the loss to future years.

Add Bought Forwards Losses,

1. Navigate to Save > Begin/Edit > Losses > Add.

2. Select the Assessment year that applies to you.

3. Enter the losses that applies in your Income situation,

   • House Property Losses.
   • Short Term and Long Term Capital Loss.
   • Business and Profession Loss.

4. After entering your losses incurred, click on Save.

Finally! Now we can claim your previous year losses against the gains you have earned and decrease your tax liabilities.