Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 March 2012
sir
i have taxable salary income current year, and have loss from agricultural income in current year
so can i set off salary income from agricultural income
please tell me which section ?
thanks
i have taxable salary income current year, and have loss from agricultural income in current year
so can i set off salary income from agricultural income
please tell me which section ?
thanks
24 March 2012
Loss from a source of income which is exempt from income tax (for example, an agricultural loss) can not be set off against income from a taxable source of income.
Agriculture Income is exempt under section 10 & hence loss from it cannot be set off.
Agriculture Income is exempt under section 10 & hence loss from it cannot be set off.
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