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Set off of loss upto 50% of income?


Abhishek (Student)     20 August 2019

Abhishek
Student 
 4 likes  78 points

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Does anyone know about a provision that limits either inter or intra head set off of loss against income only upto the the extent of 50% of such income?

It might be from topic of assessment of various entities. I remember reading a question specifically on this in the Study Material for CA Final Old Course, but unable to recall exactly which topic or chapter in the book.

Any help would be appreciated. Thanks in advance!

avater

Kapadia Pravin   20 August 2019

Kapadia Pravin

 916 likes  14288 points

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I think no such set off provision

avater

Abhishek (Student)     20 August 2019

Abhishek
Student 
 4 likes  78 points

View Profile | My Other Post

I found the solution. It is under section 44A for Trade and professional associations.


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