Carry forward loss
Querist : Anonymous
> as per sec 80tta int on sb is eligible for deduction.
> and int income also eligible set-off with business loss(normal)
>If i have s.b. int 1200 and loss 1500
> then may i get double benefit of int amount i.e. 1st one is sett-off and 2nd one is deduction u 80tta.... please reply??????
Querist : Anonymous
>chargeable salary income 4 lakh
>pgbp loss 1500
>interest income 1200
>now my i adjust int against loss
as well as taking deduction of 80tta 1200 both. or not
Querist : Anonymous
Querist : Anonymous
i have chargeable salary 4 lakh
>pgbp loss 1500
>interest on saving a/c 1200
may i get double benefit i.e.set off loss with int and get deduction u/s 80tta. both or not. pls reply
Income from Salary Rs. 4 lakh and loss from pbgp Rs.1500 adjusted with Rs.1200 interest income. so loss from business can be forward to next year Rs.300/- and salary income will be taxable after adjusting the chapter VI-A deductions other than 80TTA. because your gross total income not consists of interest income due to adjustment with business loss, so sec.80TTA deduction not available
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