State the time limit for carry forward and set off of loss in the following cases: (i) Loss from speculation business; (ii) Loss under the head "Capital gains"; (iii) Loss under the head 'Income from other sources'.

(i) Loss from speculation business can be carried forward u/s 73 of the Income Tax Act, 1961 and set-off for a maximum period of 4 assessment years immediately succeeding the assessment year for which the loss was first computed. (ii) Loss under the head capital gains can be carried forward u/s 74 of the Income Tax Act, 1961 and set-off for maximum period of 8 assessment years immediately succeeding the assessment year for which the loss was first computed. (iii) Loss under the head Income from Other Sources which is not set-off in the year in which it is incurred cannot be carried forward and set-off in the subsequent assessment years. However, loss of owning & maintaining race horses can be carried forward u/s 74A of the Income Tax Act, 1961 and set-off for maximum period of 4 assessment years immediately succeeding the assessment year for which the loss was first computed.