Business losses
K Vijay Singh Chauhan (14 Points)
06 July 2017
Business losses can be set off against Long Terms capital gains or Short term capital gains or not?
4 Replies
Akash
(CA Final (2nd Group Pending))
(876 Points)
Replied 06 July 2017
Business loss cannot be set-off against salary income. It can be set-off against other incomes
So Yes.
CA Prashak Kumar Goyal
(Pratice)
(192 Points)
Replied 06 July 2017
Non-speculative business loss can be set off against any income from any source except salary. Reference section - 72
CA Prashak Kumar Goyal
(Pratice)
(192 Points)
Replied 06 July 2017
Non-speculative business loss can be set off against any income from any source except salary. Reference section - 72
Poltu Ghosh
(Job)
(1865 Points)
Replied 06 July 2017
Current year business loss (non speculative) can be set off with STCG but cannot be set off with LTCG. Brought forward business loss cannot be set off with STCG or LTCG.
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