Loss from business setting from House Property Income
This query is : Resolved
12 December 2022
For Loss from business; setting it from House Property Income claiming refund. ITR filed after due date but before extension of due date till 15/03/2022. whether the loss from business be adjusted from House Property Income & refundable made accordingly.
12 December 2022
Business loss other than speculative business can be set off against any head of income except income from salary. Secondly, Losses from the business specified under Section 35AD (Specified Business) cannot be set off against Incomes other than income from business specified under Section 35AD. But Losses from Non-Specified Business can be set off against Income of Specified Business.
No set off of any carry forward losses with any other head of income..
So, for intra head adjustment, it depend upon nature of loss.
No set off of any carry forward losses with any other head of income..
So, for intra head adjustment, it depend upon nature of loss.
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