Agriculture loss

Tax queries 248 views 2 replies

I am a salaried person; and my sources of income is from salary, interest/dividend also, loss in agriculture.

the question is : Can I adjust the agricultural loss with the salary and income from other sources.

the loss in agriculture is not a carry forward loss.. it is the loss incurred in the current fy.

I request the experts, to kindly guide me..

Replies (2)
As agriculture income is exempt from tax therefore loss from agriculture activity cannot be setoff nor against salary income nor INcome from other sources
No you cannot set off as it is exempt


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