Loss in head of income from other source

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Querist : Anonymous

Querist : Anonymous (Querist)

21 May 2013 Can there be any Loss in Head of Income from other Sources...??

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Guest (Expert)

21 May 2013 Yes , there can be loss in other sources also.

Section 57 provides deductions for the Incomes under the head Income From Other Sources.

Section 70 and SEction 71 applicable to the same.

And Section 74 A, deals with Owing and maintaining horse races, also a carry forward of loss section

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