Setting of business losses

Surya Phani (25 Points)

28 August 2022

Can business losses be set off against other heads except salaries

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (167297 Points)
Replied 28 August 2022

Business loss other than speculative business can be set off against any head of income except SALARY..

3 Like

Sai Allu (754 Points)
Replied 28 August 2022

Loss from business and profession cannot be set off against income chargeable to tax under the head “Salaries”

2 Like

sabyasachi mukherjee (27117 Points)
Replied 29 August 2022

Business loss can be set off against any business gain

2 Like

veerendar singh (tax consultant) (3301 Points)
Replied 30 August 2022

Yes it can go to any other head.
but do make sure you are complying with audit requirement

3 Like

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 03 September 2022

Yes you can set off from any head other than salary ( normal business only )

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