Poonawalla fincorps
Poonawalla fincorps

Business loss & other income

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 June 2014 Other Income Rs 200
Business Loss Rs 100
Net Profit Rs 100
Taxable Income Rs 100

Am I right sir ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 June 2014 What is the nature of other income?

you can set off if the other income is not nature of casual income like lottery/ horse races etc..
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Rupesh Jain

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Rupesh Jain (Expert)
20 June 2014 if other income of lottery, horse race wining or casual income then these income are special rate income , agst this no adj will allowed .
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