Set off of loss from one head against income from another head (Inter-Head Adjustment) - Section 71

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e same previous year. Exceptions: - Speculative business loss can be set off against only speculative income Loss of 'Specified Business' under section 35AD can be set off against any other specified business income. Loss under the head Profits and gains of business or profession cannot be set off against the head income from Salaries [ Section 71(2A) ] Long term capital loss can be set of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X