set off
This query is : Resolved
20 October 2010
Business Loss Can be set off against short term capital gain?
20 October 2010
You can sett off Current Year Business loss (not to be Speculative) against Current Year Capital Gain (LT or ST)...
But you can't sett off brought forward Business loss against income under any head...
For details see following link---
http://wirc-icai.org/wirc_referencer/Income%20Tax%20&%20Wealth%20Tax/Set%20off%20And%20Carry%20Forward%20of%20Losses.htm
But you can't sett off brought forward Business loss against income under any head...
For details see following link---
http://wirc-icai.org/wirc_referencer/Income%20Tax%20&%20Wealth%20Tax/Set%20off%20And%20Carry%20Forward%20of%20Losses.htm
Message likes :
1 times
20 October 2010
yes u can set off non speculation business loss in the same year.
Message likes :
1 times
20 October 2010
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