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Daught

This query is : Resolved 
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(Querist)
14 February 2014 where a person has a liability to pay tax in respect of other persons income, he is allowed to adjust such persons losses against his income
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CA ramesh

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CA ramesh (Expert)
15 February 2014 Under the income tax act, only the income is taxed and there is no provision to deduct expenditure except specifically provided. In your case , you can not adjust the personal losses (I understand from the query that the loss is personal loss and not connected with any business or other earnings)
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