Pf withdrawal set off against business loss

vishnu vardhan (1 Points)

25 March 2017  

I am salaried person with salary income of Rs5L in FY 16-17. In the FY 16-17, I withdrawn the PF from my previous organization for Rs 2Lakhs. Also in part time I do business and incurred a loss of Rs3 Lakhs. For the salary income Tax is deducted at source. Is it possible to set off loss against the PF withdrawal fund . Pls suggest whether it is applicable