Ok i understand what you say & i got my answer but pls give answer of this question
1.business incom ( before depreciation ) 2,00,000
depreciation for the current year 2,50,00
income from other sources 70,000
in this question business loss ₹50,00 carried forward & tax to be psid in income from other sources ?
2. business loss 50,000 & income from other sources ₹ 70,000 can income from other sources can be set of against business loss ?
Once again, you have to deduct loss from incomes. Setoff means cancelling against each other. Although the answer is the same, you have to represent it as a-b=c rather than the answer is ‘c’
CAclubindia
