Set off of losses
This query is : Resolved
04 December 2008
Hi friends
Pls clarify on the issue written down:-
Can Business loss be set off against house property income when no business carried out by a company during the year???
Thanks in advance
Pls clarify on the issue written down:-
Can Business loss be set off against house property income when no business carried out by a company during the year???
Thanks in advance
CA Tilak Raj Sharma
(Expert)
04 December 2008
No, you cann't do so. Brought forward Business losses can be set off only against business incomes. However business losses of current can be set off against house property income.
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