Set-oo of losses u/s 70 from dividend income exempt from tax
This query is : Resolved
14 June 2009
Whether it is incumbent on the assessee to set-off loss from share trading business from the dividend income, exempt u/s 10(34), as dividend income is a part of income , as defined u/s 2(24)(ii) of the Act, under the head 'Income form Other Sources' and was later on made exempt w.e.f.01.04.2004? Also Section 70 contemplates set-off of losses against income from any other source, and income includes dividend exempt u/s 10(33).
14 June 2009
it can not be set off.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Selecting Tax Regime while for calculating tax relief on under Section89 of income tax act 1961.
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Cloud service
- Forgot to update debit note in gst
- GST ON FOREIGN CLIENT
- Can we issue an invoice today
- SALE OF GOODS FROM OTHER STATE
- Running non ac bus under contract with roadways
- GST ITC on Liquidated damages
- Sale of Gold ornaments
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
