Chit fund loss - please help
This query is : Resolved
09 June 2017
DEAR EXPERTS
WHETHER CHIT FUND LOSS IS AN ALLOWABLE DEDUCTION FROM INCOME ( EITHER UNDER BUSINESS INCOME HEAD OR INCOME FROM OTHER SOURCES).
PLEASE HELP
WHETHER CHIT FUND LOSS IS AN ALLOWABLE DEDUCTION FROM INCOME ( EITHER UNDER BUSINESS INCOME HEAD OR INCOME FROM OTHER SOURCES).
PLEASE HELP
09 June 2017
If the proceeds are used for business purposes, the loss can be claimed while computing business income.
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