order of priority to set off business loss
This query is : Resolved
15 June 2019
we have income from house property, income from other sources, income from long term capital gains on sale of shares and income from short term capital gains on sale of shares. we have a business loss.
we filed return setting off the business loss against long term capital gains .
but the assessing officer set off the business loss against house property income and other sources income first.
is there any order/sequence of set off of business loss.
please clarify
we filed return setting off the business loss against long term capital gains .
but the assessing officer set off the business loss against house property income and other sources income first.
is there any order/sequence of set off of business loss.
please clarify
15 June 2019
Np such order/sequence. You have exercised the option u/s 71(2) correctly.
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