Regarding set off of loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 March 2016
Sirs/Madam.
Can we set off of loss on agricultural income form any head of income.
Regards,
Arun T Bhoothe
Can we set off of loss on agricultural income form any head of income.
Regards,
Arun T Bhoothe
07 March 2016
Dear
Agriculture income is non taxable I.e it is exempted income and as per income tax act the losses pertaing to exempted incomes can not be set off.
So the loss can not be set off or carried forward.
Agriculture income is non taxable I.e it is exempted income and as per income tax act the losses pertaing to exempted incomes can not be set off.
So the loss can not be set off or carried forward.
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