22 January 2019
I HAVE FILED ITR-3 OF AN PERSON THROGH COMPU OFFICE .WHICH HAVE HP LOSS AND LONG TERM CAPITAL GAIN AND BUSINESS INCOME ..SOFTWARE AUTO SETS OFF THE HP LOSSES FROM LTCG THUS TAX ON SPECIAL INCOME REDUCED BY THAT AMOUNT.. NOW DEPARTMENT HAS ISSUED A NOTICE THAT THERE IS DIFF. BETWEEN SPECIAL INCOME ...NOW WHAT TO DO ?????
23 January 2019
set off of HP loss against any other income is restricted to 2 lakhs only. You may have to recalculate your taxability in case of any non-compliance and response to the department along with additional tax liability, if any.
CAclubindia
