Issue regarding income adjustment

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student
28 Points Joined September 2016

question-1  Can we adjust business loss against  long term capital gain ( long term capital gain arised on account of sale of  land and building).

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On 27 September 2016 at 11:56 Report
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Practising CA
8944 Points Joined December 2013
Yes current year business loss can be set off against income from capital gains u/s 71
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On 27 September 2016 at 12:35
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artical
39 Points Joined September 2016
Yes you can adjust business losses with Capital Gain,but business loss should not from speculation business.
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On 27 September 2016 at 12:39
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Senior Executive
106 Points Joined March 2013
  1. Speculative Business loss can be adjusted only against Speculative Business Gain
  2. Non Speculative Business Loss can be adjusted against,
  • Speculative Business Gain
  • Captial Gain (Short & Long term)

Loss under the head Profit or Gain on business or profession, cannot be set off against Salaries

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On 27 September 2016 at 13:19
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CA ARTICLE
143 Points Joined September 2016

Yes, It can be set off

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On 27 September 2016 at 13:39


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