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Set off of losses

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(Querist)
04 December 2008 Hi friends

Pls clarify on the issue written down:-

Can Business loss be set off against house property income when no business carried out by a company during the year???

Thanks in advance
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
04 December 2008 No, you cann't do so. Brought forward Business losses can be set off only against business incomes. However business losses of current can be set off against house property income.

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