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Treatment of loss from betting ???

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(Querist)
07 March 2014 Hello everyone,

kindly provide me solution of the following.

Income from house property (ay 13-14) - 100000
Income from Business profession(ay 13-14)-200000

Loss from betting for AY 10-11- 50000/-

what will be the treatment of loss from betting ?

waiting for the views of the experts.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
07 March 2014 loss from betting is not allowed under income tax- no set off allowed.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 March 2014 no set off is allowed under income tax act...
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