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MOHAMED SALIM (SENIOR FINANCE EXECUTIVE) (64 Points)

12 August 2019

Person has loss from house property for Rs.162000, Salary Taxable Income - Rs.530000 and Loss from long term capital gain -Rs 570000. Can he set off his salary income against loss

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3 Replies

Pankaj Sarkar (145 Points)
Replied 12 August 2019

loss on house property can set of with all head but long-term cap loss only to long-term cap gain

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sundhar jkn (205 Points)
Replied 12 August 2019

Loss from house property can be set off against any other income. He can set off loss from salary. But long term capital loss can only be set off against long term capital gains.