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Under the Income Tax Act, 1961, which of the following statements regarding Carry Forward of Losses is INCORRECT?
Long-term capital loss can be set off against both short-term and long-term capital gains
Unabsorbed depreciation can be carried forward indefinitely without any time limit
Speculation loss can be carried forward for 4 years and set off only against speculation profits
Business loss (non-speculative) can be carried forward for 8 years and set off only against business income
Long-term capital loss can be set off against both short-term and long-term capital gains
Practice and solve "Under the Income Tax Act, 1961, which of the following statements regarding Carry Forward of Losses..." for Subject Knowledge - CCIManagement Trainee Accounts 01 Sep 2026 Shift 2. The correct answer is Option A: Long-term capital loss can be set off against both short-term and long-term capital gains. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.
Practice and solve "Under the Income Tax Act, 1961, which of the following statements regarding Carry Forward of Losses..." for Subject Knowledge - CCIManagement Trainee Accounts 01 Sep 2026 Shift 2. The correct answer is Option A: Long-term capital loss can be set off against both short-term and long-term capital gains. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.