Business loss can be set off from income of any other business but cannot be set off from:

CS Executive · Tax Laws and Practice · PYQS · June 2019
Business loss can be set off from income of any other business but cannot be set off from:
(A) Salary Income
(B) House Property Income
(C) Long Term Capital Gains
(D) Income from derivatives specified in section 43(5)

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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