banner_ad

Set off priority order

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
31 January 2015 is there is priority for set off?
eg. business loss -183857,capital gain 369075,income from other source 60631, deduction 100000.. so give me suggestion, whether 1st business loss adjust against capital or Ios which affect deduction?
plz reply
Profile Image

Nikhilesh Kataria

Profile Image

Nikhilesh Kataria (Expert)
31 January 2015 Dear Sir,
There is no priority for set off of current year losses. In any case, priority will not make any difference in as much as the deduction of Rs.100000/- is given out of gross total income and not from any individual head of income. In the instant case the gross total income will be Rs.245849/- and total income will be Rs.145849/-
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
02 February 2015 but sir deduction will not get on capital gain????? nd business loss in this case is carry forward or adjust on current year..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details