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Set Off of Losses

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(Querist)
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
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CA Sanat Pyne

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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.
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CA. Lohith Jagadeesh

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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
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