set off

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SANJAY DATTA (Querist)
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06 May 2009 1.Is House property Loss possible to setoff against any other head Income during the previos year and c/f and setoff against other Income during subsequent previous years ?
2Is Electric contractor under the Busisess head?

CA. Aryendra

CA. Aryendra (Expert)
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06 May 2009 Loss from house property can be set off for the same year under following head:

- Salary
- Business or Profession
- Capital Gain
- Income from other sources except income from winning

and Carry Forward Loss can be set off against the House Property head.

Note: Section 80 is not applicable

CA. Aryendra

CA. Aryendra (Expert)
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06 May 2009 2 Yed Electric contractor is under business head

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