Set off and carry forward of losses


This query is : Open 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
23 May 2017 Suppose In previous year i have trading loss and in current year due to loss in p.y. trading activity is closed and all the godown is given to rent and in current year i have profit from that rent income so loss from trading can set off against rental income ?

23 May 2017 No You Can't set off as brought forward losses set off from Same head only. You can Set off Business Loss from Business Profits only in next 8 A.Y.

23 May 2017 Yes it can be set off treating rental income from godown a commercial property under business income.

Avatar

Expert : Anonymous

Profile Image
Expert : Anonymous (Expert)
23 May 2017 If rental income is considered as business income you can set off such loss


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details