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Treatment of share of loss on dissolution of partnership firm

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(Querist)
14 November 2022 CAN PARTNER SETOFF SHARE OF LOSS RECEIVED FROM FRIM ON FIRMS DISSOULTION AGAINST HIS PERSONAL INCOME
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 November 2022 No, such loss can't be set off.
Share of profit from firm is exempt income hence loss can't be set off.

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