Setting of business losses
Surya Phani (25 Points)
28 August 2022
Can business losses be set off against other heads except salaries
5 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195388 Points)
Replied 28 August 2022
Business loss other than speculative business can be set off against any head of income except SALARY..
Sai Allu
(754 Points)
Replied 28 August 2022
Loss from business and profession cannot be set off against income chargeable to tax under the head “Salaries”
sabyasachi mukherjee
(27835 Points)
Replied 29 August 2022
Business loss can be set off against any business gain
veerendar singh
(tax consultant)
(3306 Points)
Replied 30 August 2022
Yes it can go to any other head.
but do make sure you are complying with audit requirement
but do make sure you are complying with audit requirement
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 03 September 2022
Yes you can set off from any head other than salary ( normal business only )
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