Set on & Carry Forward

Srinath (Chartered Accountant) (166 Points)

10 March 2011  

Guys 2 doubts

1. Can loss from betting be set off against profit from betting in a)Same year b) Last year loss of betting?

Is it same as speculative business?

2. Can loss from owning horses be set off against winnings from race horses?

 

Appreciate It!