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How to Add Previous Years’ Losses to your Income Tax Return on ClearTax

Updated on :  

08 min read.

Procedure to add previous years’ losses in your IT return for the current assessment year.

Step 1: Log in to your account on www.cleartax.in.

Step 2: Under ‘My Account’, click on the ‘Advance options’.

Welcome to CT

Step 3: A window will pop up. Click on the ‘Loss Summary’ from the options.

Navigate to Advanced options

Step 4: Click on ‘Add Previous Year Loss’ to enter the details of brought forward losses. You can also add details of unabsorbed depreciation by clicking on ‘Add Previous Year Depreciation Loss’.

Brought forward losses

Step 5: Once you click on ‘Add Previous year loss’, select the assessment year and loss category from the dropdown menu. Enter the loss amount in negative value by prefixing a ‘-’.

Previous year's loss information

Step 6: All your losses will be saved and listed in your profile. Then, you will have to enter the filing dates, i.e the date on which you filed your return and declared these losses. Once done, click on ‘Save’.

Enter due date of return filinh

Then, click on ‘Go to Next’ button placed on the right-hand upper corner of the page.

Step 11: Then, you will have to enter your Aadhaar details and your bank account and proceed to e-filing.

Additional information on ClearTax

Step 12: Ensure that the details entered by you are correct. You can also see the summary of the details entered and e-file your tax returns in minutes.

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