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Set off of business loss

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(Querist)
20 July 2011 Dear All,

Can we offset business loss against other income (FD and SB Interest)?? There is no other business income.
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Zeeshan

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Zeeshan (Expert)
20 July 2011 Yes business loss can be adjusted with Income from other sources except following:

1. Lotter Income
2. Income from owning and maintaining horses/races

Further Business loss can not be adjusted with the following as well:

1. Salary Income
2. Capital Gain

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