Set Off of Losses
This query is : Resolved
10 February 2011
During the FY 2009-10, Mr.A has salary income of Rs.1000000, Loss from House property(Self Occupied)- Rs.100000, Loss from Profession- Rs.100000.
kindly let me if I can set off the loss from Houseproperty and Business against salary income.
Thanks in advance
kindly let me if I can set off the loss from Houseproperty and Business against salary income.
Thanks in advance
CA Sanat Pyne
(Expert)
10 February 2011
LOSS FROM HOUSE PROPERTY CAN BE ST OFF AGAINST SALARY INCOME. BUT BUSINESS/PROFESSIONAL INCOME CAN NOT BE SET OFF AGAINST SALARY INCOME.
CA. Lohith Jagadeesh
(Expert)
10 March 2011
Hi,
Agreed with the Expert
Thank you,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Agreed with the Expert
Thank you,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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