I am having problems with Schedule CFL. I had business losses in AY 18-19 (lets say 100 INR), 19-20 (100 INR), and 20-21 (100 INR). So a total of 300.

Last year I had a business profit of say 50 INR. So last year I used to accumalated loss to set off my profit in schedule CFL. So the remaining amount was 250.

This year I have had a profit of 25 INR. So I am trying to set that off using the remaining losses on CFL.

I am filling out the year wise losses as mentioned at the start of this post, and then adjusting it in Schedule BFL with this years profit.

But the total is coming to 275 instead of 225. Basically the count of accumulated losses is starting from 300 instead of 250 which is what it should be after the set off last year.

Only the tabs for year wise losses are editable in CFL. The tabs for total losses brought forward from previous years is not editable.

Kindly advise me on how to do this correctly so that I get the correct amount there. Please help with specific steps using my example if possible.

If I have to edit the amount of losses carried forward myself then I am not sure which method would be correct.

Method one would be adjusting last yearâ€™s set off against one of the previous years losses. So for example the loss for AY 18-19 would become 75 instead of 100. But as far as I am aware we are supposed to put the exact loss figure of that particular year as per the ITR filed that year in those coloums.

Method two would be if I take the entire remaining loss after CFL adjustment last year and put it against last year and leave the others blank. So AY 18-19, 19-20, 20-21 would become blank and AY 23-24 would say a loss of 275. But that would also not be correct since I did not have loss in AY 23-24. Rather I had profit.

I am very confused. Can someone please help.