Set off of interest income against business loss

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Manager of Accounts
165 Points Posted on 15 July 2018
Hello.. pls let me know whether interest income can be offset against business losses while filing tax returns
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On 15 July 2018 at 00:12 Report
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Chartered Accountant
4524 Points Posted on 15 July 2018
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.
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On 15 July 2018 at 07:36
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1234 Points Posted on 15 July 2018
yes you can....and balance loss (any) can be carried forward upto 8 or 4 years based on the business
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On 15 July 2018 at 12:06

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