Yes House Property loss can be setoff against salary income.Business loss cannot be setoff against salay income.
Kumar Babu.G
(Chartered Accountant)
(1597 Points)
Replied 28 May 2011
Yes House Property loss can be setoff against salary income.Business loss cannot be setoff against salay income.
Rup Kumar
(finance manager)
(288 Points)
Replied 28 May 2011
Yes, Both loss (current year) form Self occupied & let out house property can be set off against salary income.