Loss in business and profession
This query is : Resolved
18 July 2012
Experts i got a loss in my business and profession can i set of it wid ma salary income. so that ma tax b reduced and the tds become refundable.
is this in income tax can we set of our loss wid our salary income
guide me
is this in income tax can we set of our loss wid our salary income
guide me
19 July 2012
Loss under the head B/P can be set of against any income except salary income and casual.
20 July 2012
Loss from business can be set off against speculative as well as non speculative income but it cannot be set off against salary income.................This rule was introduced by the great mind Chidambaram...........
There are lot of other provisions its better u refer the chapter "set off of Losses"
Rgds
Shakti Soni
There are lot of other provisions its better u refer the chapter "set off of Losses"
Rgds
Shakti Soni
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- LIC maturity claim whether taxable
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- FCRA 6 E- Intimation
- EXPORT COMMERCIAL INVOICE HSN CODE
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
