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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
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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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