Business loss set off

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2014 Hi

Is business loss set off against long term capital gain. What about unabsorbed depreciation loss.

Thanks in advance

@VaibhavJ

@VaibhavJ (Expert)
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02 January 2014 Hi

Yes you can!

Pl refer for more details:

https://taxpeople.in/Set_Off_And_Carry_Forward_Of_Loss.html

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2014 Hi

What about carry forward business loss can it be set off against long term capital gain

Gayathri Devi

Gayathri Devi (Expert)
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02 January 2014 The carried forward business loss can be adjusted only against the business income not under any other heads of income.

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Gayathri Devi

Gayathri Devi (Expert)
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02 January 2014 The carried forward business loss can be adjusted only against the business income not under any other heads of income.

@VaibhavJ

@VaibhavJ (Expert)
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02 January 2014 Yes agree with expert!

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 October 2021 Business income loss cannot be adjusted against long term capital gains.
Un-absorbed depreciation loss should be carried forward for adjustment against any business income upto next 8 years.

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