Set off of losses ..
This query is : Resolved
13 October 2009
Can any kind of loss be set off with the income from winning from lotteries ??
If yes, plz quote section ...
Thanks ..
If yes, plz quote section ...
Thanks ..
13 October 2009
Dear Tarun,
Losses under the head of HP and PGBP(other than speculative loss) of same year can be sett off against casual .
Refer CHAPTER VI SET OFF OR CARRY FORWARD OF LOSS especially section 71of I T Act.
Thanks
Losses under the head of HP and PGBP(other than speculative loss) of same year can be sett off against casual .
Refer CHAPTER VI SET OFF OR CARRY FORWARD OF LOSS especially section 71of I T Act.
Thanks
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