Set off and caryy forward of losses

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CA FINAL
177 Points Posted on 05 September 2011

Can Business loss be set off from House Property Income

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On 05 September 2011 at 18:32 Report
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Accountax
6285 Points Posted on 05 September 2011

yes it can be set off

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On 05 September 2011 at 18:45
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Proprietor of M/s Vanamala and Co
972 Points Posted on 13 December 2011

As per Sec 71 of  Income Tax Act,1961

Business Loss can be set off against any other head of income

except from the head salaries   !!!

 

Thanks for Oppurtunity ....!!!!indecision

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On 13 December 2011 at 10:17
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Chartered Accountant in Whole Time Pract
4354 Points Posted on 13 December 2011

Agree with above

Business loss can be set off against any head except salary head

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On 13 December 2011 at 10:22
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Partner at Elite Educare
356 Points Posted on 13 December 2011

Agree with Phani..

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On 13 December 2011 at 11:44

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