Set off
This query is : Resolved
11 September 2010
whether business loss can be set off from income from house property
11 September 2010
Business loss can be set-off with any income except SALARY income but only incase of first year of occurance of business loss(Sec 71)
But, in case of carry forward business loss, this can be set-off only with business profit not with any other income(Sec 72A)
Regards!!!
Dinesh S. Adhikari
But, in case of carry forward business loss, this can be set-off only with business profit not with any other income(Sec 72A)
Regards!!!
Dinesh S. Adhikari
CA Navin Jain
(Expert)
11 September 2010
Agree with Mr. Dinesh
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