Losses incurred in a particular financial year need to be declared while filing an ITR so as to be able to carry forward them to the next financial year and set them off against the future profits of certain income heads.  


A set-off could be an intra-head set-off or an inter-head set-off.


There are two ways to add brought forward losses

Autofill Brought Forward Losses

  • In the Filing tab, navigate to work on your tax return > more 
  • Tap on manage details > autofill
  • Select the method to connect with your ITD account
    • Aadhaar Registered OTP
    • Income Tax portal login credentials
  • On the next screen, you will see the brought forward losses


The Autofill feature will help in fetching your salary income directly from the income tax portal. 



Add Brought Forward Losses Manually

  • In the Filing tab, navigate to work on your tax return > more 
  • Tap on manage details > add manually
  • Enter the ITR details and Loss details
    • Assessment Year
    • Original ITR filed on date
    • House Property Loss
    • Loss in Capital Gains- Short-Term and Long Term
    • Loss in Business & Profession- Speculative and Non-Speculative


 

Note:
Loss under any head of income except income from house property cannot be carried forward to future years if the ITR has not been filed by the due date as per Sec 139(1).