Why business loss cannot be set off against salary
This query is : Open
29 March 2013
whats the reason or logic
29 March 2013
dear Akshay lets take an example..
i earned salary say for Rs. 250000/-
and i does not have any investment u/s 80C..
but i have to save tax...
now i would show that i have started a new business in the month of march but no sale has taken place in the month of march..
in that case my P&L show business loss..
which i would set off my salary income..
to prevent such manipulation government has provided a restriction that income from salary cannot be set off with the business loss
i earned salary say for Rs. 250000/-
and i does not have any investment u/s 80C..
but i have to save tax...
now i would show that i have started a new business in the month of march but no sale has taken place in the month of march..
in that case my P&L show business loss..
which i would set off my salary income..
to prevent such manipulation government has provided a restriction that income from salary cannot be set off with the business loss
29 March 2013
If this is the reason sir i will give you an example i have a huge capital gain.In order to save the tax, i will create the business loss of what you gave as example than why govt is not preventing that manipulation
08 August 2013
Please provide the ans for the above
08 August 2013
Please provide the ans for the above
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