Set off and Carry forward

Vedant Khanna (374 Points)

29 April 2019  
Is it necessary to set off current year business losses before setting off brought forward business loss?
(both being non-speculative)

Income from HP = 60,000

Income from business A= 1,00,000

Current year loss in business B= 50,000

B/f loss in business A= 70,000
B/f loss in business B= 80,000

Please tell me what will be the minimum possible GTI in such a case.

Can we first set off b/f losses of 1,50,000 with PGBP income of 1,00,000
(50,000 being c/f further)

Then set off current year business loss with HP Income.

Or is it necessary that i must first set off current year loss from pgbp income only?