set off & c/f of losses
This query is : Resolved
13 May 2016
whether agricultural loss is allowed to be carry forward & if yes agianst which income it can get set off & if no than please specify the reasons. dicription is need in both the ans.
13 May 2016
Agricultural income is exempt from tax, hence, if the taxpayer incurs loss fromagricultural activity, then such loss cannot be adjusted against any other taxable income.
20 October 2021
No. Because it cannot be set off with any other income. While agriculture income would be free otherwise.
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