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Sir by when should an individual make a claim a to set trasding losses against total income (and previous tax yr total income)? at one place its written by 31 jan 2022 for tax yr 2019/20 and at the other place its return 4yrs from the end of tax yr in which loss arose(for 2019/20 5april 24). so now am confused totally.
Thanks as always!
I got it sir! So a claim fro trading losses that are to be set off against total income of say, 2019/20, then claim to be made by 31 jan 2022 and for setting it off against chargeable gains of 2018/29 or 2019/20 also same date 31/1/22.
But if a there is an amount unrelieved after setting the current yr losses against total income of this year and/or last year then the amount to be c/f needs to be specified and claimed for by fapril 2024(4 yrs from end of tax yr in which loss arose).
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