Dear Friends,
In PCC Nov 10 Qn paper u may find the interest received on enhanced compensation Qn. No. 1 (C). Can we use this income for set off b/fwd business loss (after allowing 50% deduction for that income). Give ur views.
B. Umapathy (student) (405 Points)
29 November 2010Dear Friends,
In PCC Nov 10 Qn paper u may find the interest received on enhanced compensation Qn. No. 1 (C). Can we use this income for set off b/fwd business loss (after allowing 50% deduction for that income). Give ur views.
Santhosh Poojary
(SIEMPRE AHÍ PARA TI)
(15607 Points)
Replied 29 November 2010
CA Mudit Agarwal PGDFM,MCP,IFR
(Dy. Manager (Taxation))
(289 Points)
Replied 30 November 2010
agreed........
prashant goyal
(CA-Final)
(100 Points)
Replied 30 November 2010
yes of course sec 71 allows inter head set off of losses and no restriction imposed for not allowing set off..
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