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Set Off & Carry Forward

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(Querist)
27 August 2010 Can loss from the head "Income from other Sources" be carried forward ?

Eg

Loan @10% taken as on 1 Jan 10.................1,00,000/-
Investment @ 15% taken as on 1 Jan 10..........1,00,000/-

Interest on Loan accrues last day of every month and on investment every year on 31 Jul.

Net Taxable Income

Int on Investment till 31/Mar/10.........0
Int on Loan till 31/Mar/10...............(2500)

Hence Loss under IFOS (2500)

Can this loss be carry forward to next year ?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
27 August 2010 Interest on investment can be accrued and put into account interest accrued but not due.

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