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Set off of interest income against business loss
Hello.. pls let me know whether interest income can be offset against business losses while filing tax returns
Replies (2)
business loss can be setoff against business Income Head; or any other head except salaries [Sec. 71(2A)]. You can set off business loss from interest income.
yes you can....and balance loss (any) can be carried forward upto 8 or 4 years based on the business
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