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Set off of losses

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one of my client has earned income from other sources (under section 56(2)(viib)). They have accumalated business losses and in the current year also there is business loss. can income earned from other sources can be set off against such carry forward business losses or current year losses? Is there any special provision for taxation of Income U/s 56(2)(viib)
Replies (9)

Loss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Agree with Saurabh Kumar.
Also, carried forward business loss can be set off against business income that may be from the same business in which the loss was incurred or may be any
*or may be any other business

Loss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Read more at: /forum/set-off-of-losses-372997.asp

Loss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Read more at: /forum/set-off-of-losses-372997.aspLoss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Read more at: /forum/set-off-of-losses-372997.aspLoss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Read more at: /forum/set-off-of-losses-372997.aspLoss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Read more at: /forum/set-off-of-losses-372997.aspLoss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Read more at: /forum/set-off-of-losses-372997.aspLoss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Read more at: /forum/set-off-of-losses-372997.asp

Loss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y. Read more at: /forum/set-off-of-losses-372997.asp

Loss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Read more at: /forum/set-off-of-losses-372997.asp

Loss from current year business can be set off against any income from other Sources (even u/s 56(2)(vii)(b)) but carry forwarded business loss can be set off against business income only up to 8 A.Y.

Read more at: /forum/set-off-of-losses-372997.asp

Thank you sir


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