Set off of losses with the surrendered income - the restriction ...

Income Tax

August 21, 2017

Set off of losses with the surrendered income - the restriction shall apply to assessment year 2017-18 onwards. Accordingly, for the year under consideration, there is no restriction to set off of business losses against income brought to tax u/s 69B -In the absence of any provisions in section 71 falling under Chapter-VI which restrict such set off, in the instant case, set off of business losses against income brought to tax u/s 69B cannot be denied.

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Set off of losses with the surrendered income - the restriction ...

Income Tax

August 21, 2017

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