Poonawalla fincorps
Poonawalla fincorps

Set-off of losses

This query is : Resolved 
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(Querist)
22 April 2015 Can income from betting can be set-off against losses from house property ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 April 2015 No. betting & gambling income cannot be adjusted with other loss. you can carry forward the HP loss
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Kashish K. Jain

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Kashish K. Jain (Querist)
22 April 2015 Income from Interest on securities is 18000 and interest on loan borrowed to invest in securities is 20000 so can the net loss of 2000 be adjusted against speculative business profit or any other head of income ?
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