Set off

This query is : Resolved 

11 September 2010 whether business loss can be set off from income from house property

11 September 2010 Business loss can be set-off with any income except SALARY income but only incase of first year of occurance of business loss(Sec 71)

But, in case of carry forward business loss, this can be set-off only with business profit not with any other income(Sec 72A)

Regards!!!
Dinesh S. Adhikari

11 September 2010 Agree with Mr. Dinesh




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