Can Business loss be set off from House Property Income
Set off and caryy forward of losses
Afzal Momin (CA FINAL) (177 Points)
05 September 2011
4 Replies
CA Vanamala Phani Kumar
(Proprietor of M/s Vanamala and Co)
(972 Points)
Replied 13 December 2011
As per Sec 71 of Income Tax Act,1961
Business Loss can be set off against any other head of income
except from the head salaries !!!
Thanks for Oppurtunity ....!!!!
CA VISHAL RANA,CS,B.Com,AMFI
(Chartered Accountant in Whole Time Practice)
(4354 Points)
Replied 13 December 2011
Agree with above
Business loss can be set off against any head except salary head
CA Ketan Waghela
(Partner at Elite Educare)
(356 Points)
Replied 13 December 2011
Agree with Phani..
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