Set off of loss
SHIVANI KUDTARKAR (511 Points)
18 November 2020company @ 12%. The difference between interest recd and interest paid is shown as loss from other sources. Can he set off this loss from salary income
SHIVANI KUDTARKAR (511 Points)
18 November 2020
ayusmita
(Tax consultant)
(5885 Points)
Replied 18 November 2020
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 18 November 2020
Aman Verma
(209 Points)
Replied 18 November 2020
SHIVANI KUDTARKAR
(511 Points)
Replied 18 November 2020
anil jain
(Partner)
(1072 Points)
Replied 19 November 2020
Income from Salary can be set off only with loss on self occupied property. ( loss due to interest on loan for purchase/construction) and not other losses.
Loan to a company by a director by taking loan from others is offence under companies Act.
Pl see rule 2(1)(c)(viii) in Companies (Acceptance of Deposit) Rules 2014.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)