Section 114: Set off and carry forward of losses computed in respect of specified business

The Income-tax Act, 2025Central Act · Act 30 of 2025

Set off and carry forward of losses computed in respect of specified business.

(1) Any loss, computed in respect of a specified business, referred to in section 46, shall be set off only against profits and gains of another specified business.

(2) Where for any tax year, loss computed in respect of a specified business cannot be wholly set off under sub-section (1), so much of the loss not so set off or the whole loss, as the case may be, shall be carried forward to the following tax year and—

(i) be set off against the profits and gains, if any, of any specified business carried on by him for such tax year; and

(ii) if the loss cannot be wholly so set off, the amount of loss not so set off shall be carried forward to the following tax year and so on.

Where this provision sits

Act	The Income-tax Act, 2025
Section	114
Marginal note	Set off and carry forward of losses computed in respect of specified business
Jurisdiction	Central
Status	In force as published by the source

Find the provision, not just read it

The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:

Search 49,000+ Central and State enactments by what a provision says, not by its number
Jump from any section to every judgment that has applied it
Search 300 million+ Indian court records alongside the statute
Ask a research agent to find and read the case law on a provision for you

Free account. No card. About a minute to create.

Create a free account

Need this as data, not as a page? The Income-tax Act, 2025 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.