Treatment of share of loss on dissolution of partnership firm
This query is : Resolved
Pravin Kothari
(Querist)
14 November 2022
CAN PARTNER SETOFF SHARE OF LOSS RECEIVED FROM FRIM ON FIRMS DISSOULTION AGAINST HIS PERSONAL INCOME
CA R SEETHARAMAN
(Expert)
14 November 2022
No, such loss can't be set off.
Share of profit from firm is exempt income hence loss can't be set off.
Share of profit from firm is exempt income hence loss can't be set off.
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