Section-291: Intimation of loss

Section-291 : Intimation of loss

Section-291 seeks to provide for intimation of loss the purposes of carrying forward and set-off of such losses. Learn to understand the section-291 as it is, it's help and useful links to follow.

Here onwards, "Act" refers to "Income Tax Act 2025"

1. Section-291 as per act

The Assessing Officer shall notify to the assessee by an order in writing the amount of the loss as computed by him for the purposes of section 111(1) or (2) or 112 or 113(2) or 115(1), where––

in the course of the assessment of the total income of any assessee, it is established that a loss has taken place; and
the assessee is entitled to have carried forward and set off such loss under the provisions of the said sections.