Dear Chartered accountants ,
Plse check IAM I correct or not...
1. any loss from house property we can set off against any head of income up to 2 lakhs(remaining amount we can set off against next year)
2. any loss from business except (speculation business and income from salary). we can set off business loss......
3.speculation loss of business only can be set up against speculation only.....
... loss from maintenance and owning resources set off same head only....
4. loss from card games are set off only same head..
5. loss from sale of shares should be set off only same head
please check whether this all are correct of me.. if there is any wrong please clarify and explain me
🌟 Query:
any loss of any Heads does we can carry forward 8 years to adjust???
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SETOFF LOSS
Replies (5)
Quick Summary
Except 5 , all are correct..
Try to correct that.
Sir could you please tell me what is the mistake because I don't know
First you have to clarify that the sale of share is under capital gain or business head. If business then speculative or non speculative. After the segregation rules should be applied as said above.
Sale of shares under short capital means we can set up against both short term loss and a long term loss ( Iam I correct)
carry forward of losses for speculation business and some special business mentioned 35ad and maintenance of owning and race horse
(this carry forward losses for 4 assessment years we can carry forward ) IAM I correct
plse check
carry forward of losses for speculation business and some special business mentioned 35ad and maintenance of owning and race horse
(this carry forward losses for 4 assessment years we can carry forward ) IAM I correct
plse check
1. Correct..
2. Yes, Correct...
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