Set-off of losses
This query is : Resolved
Kashish K. Jain
(Querist)
22 April 2015
Can income from betting can be set-off against losses from house property ?
CMA Ramesh Krishnan
(Expert)
22 April 2015
No. betting & gambling income cannot be adjusted with other loss. you can carry forward the HP loss
Kashish K. Jain
(Querist)
22 April 2015
Income from Interest on securities is 18000 and interest on loan borrowed to invest in securities is 20000 so can the net loss of 2000 be adjusted against speculative business profit or any other head of income ?
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