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gambling

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(Querist)
21 September 2017 loss from gambling treatment for carry forward
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
22 September 2017 Loss on gambling neither c/f nor set off from other income.
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
22 September 2017 Income from gambling is a casual income and therefore , the loss from such activity is not allowed to be set off. SInce it is a loss that cannot be set off, it cannot be carried forward as well




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