Home > Income Tax Act 2025 > Section-119Last Updated: Feb 21st 2025
Section-119 provides for carry forward and set off of losses not permissible in certain cases and also provides that subject to certain conditions specified therein, carry forward and set off of losses shall not be permissible in cases including constitution of firm and on succession of a business or profession by another person in such capacity or shall be permissible in case of change in shareholding of a company. Learn to understand the section-119 as it is, it's help and useful links to follow.
Here onwards, "Act" refers to "Income Tax Act 2025"
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.