Schedule CYLA – Details of Income after set-off of current year’s losses AY 2026-27

Schedule CYLA – Details of Income after set-off of current year’s losses AY 2026-27

‘Schedule CYLA’ (Current Year’s Loss Adjustment) in the Income Tax Return (ITR) form reports and adjusts losses incurred during the current assessment year against income earned under various heads.

It applies to taxpayers who have incurred losses in heads such as house property, business or profession, capital gains, or other sources and wish to set off these losses against eligible income in the same year.

Section 70, Section 71 and Section 79A of the Income-tax Act, 1961.

Set-off (Loss adjustment) means adjustment of losses against profits from another source or head of income in the same assessment year. Losses are set-off in two steps – Intra-head adjustment and inter-head adjustment. Before making any inter-head adjustments, losses shall be set-off against similar income taxable under same head of income. However, the assessee cannot set off any loss against certain specified incomes, such as income chargeable under Section 115BB, Section 115BBE, and other similar provisions.

This schedule applies to ITR-3, ITR-5 & ITR-6