There is a loss from other source income.
How can i set off that loss?
Please reply in detail.
set off casual and other loss
CA Prabhat Kumar Makhija (Portfolio Manager) (152 Points)
07 April 2011
CA Prabhat Kumar Makhija (Portfolio Manager) (152 Points)
07 April 2011There is a loss from other source income.
How can i set off that loss?
Please reply in detail.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 07 April 2011
if the nature of loss is from horse race/speculation then its not available for set off
if the nature business loss then u can set off from business income or any other income, except salary.
you can not set off any loss from salary account.
alternate u can carry forward the business loss/ house property loss/ negetive capital gains upto 8 assessment years for set off.
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