22 September 2008
we have loss from house property which can be setoff against any income. in case we have income from winning of lottery as well as long term capital gain and other income also. in such a case which income should be used to set off house property loss and why??? ( if any tax provision is there please specified)
22 September 2008
It is better if loss from house property will be set off from Income from Winning from lottery & other sources income as because lottery income is chargeable @30% whereas long term capital gain income is chargeable @20% .
CAclubindia
