Amendment status not verified — confirm the current text below against the official source.
Where any assessee sustains a loss of ~:d of 0~ profits or gains in any year being a previous year fits or g!~. not earlier than the previous year for the assess- ment for the year ending on the 31st day of March, 1940, the loss shall be carried forward to the following year and set off against the profits or gains if any of the assessee from agricultural income for that year and if it cannot be wholly so set off the amount of loss not so set ofT shall be carried forward to the following year and so on but no loss shall be carried forward for more than six years. Certificate