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Business loss set off

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 January 2014 Hi

Is business loss set off against long term capital gain. What about unabsorbed depreciation loss.

Thanks in advance
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@VaibhavJ

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@VaibhavJ (Expert)
02 January 2014 Hi

Yes you can!

Pl refer for more details:

http://taxpeople.in/Set_Off_And_Carry_Forward_Of_Loss.html

Thanks
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Querist : Anonymous

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Querist : Anonymous (Querist)
02 January 2014 Hi

What about carry forward business loss can it be set off against long term capital gain
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Gayathri Devi

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Gayathri Devi (Expert)
02 January 2014 The carried forward business loss can be adjusted only against the business income not under any other heads of income.
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Gayathri Devi

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Gayathri Devi (Expert)
02 January 2014 The carried forward business loss can be adjusted only against the business income not under any other heads of income.
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@VaibhavJ

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@VaibhavJ (Expert)
02 January 2014 Yes agree with expert!
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
09 October 2021 Business income loss cannot be adjusted against long term capital gains.
Un-absorbed depreciation loss should be carried forward for adjustment against any business income upto next 8 years.

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