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Set off

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(Querist)
19 March 2015 can business loss be set off with short term capital gain?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
20 March 2015 Yes it can be set off within the in the same. Business los carried forward to subsequent year can eb set off only under the same head.

For details see link given below:

http://incometaxmanagement.com/Pages/Gross-Total-Income/Set-Off-Carry-Forward-Losses/Set-Off-and-Carry-Forward-of-Losses.html
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