If Income From Any Source Is Exempt, Then Can Loss From Such Source Be Adjusted Against Any Other Taxable Income?

If income from any source is exempt, then can loss from such source be adjusted against any other taxable income?

Free Legal Advice - taxation

Posted by: Deepanshu Sharma

Posted on: 2018-09-04

If income from a particular source is exempt from tax, then loss from such source cannot be set off against any other income which is chargeable to tax.

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at Lawtendo.com and has been responded by one of the taxation at Lawtendo.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at Lawtendo.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail. .

Talk to Top Rated Lawyer

Some issues just cant wait. If you need a resolution right away, then use our quick consult option to speak with our Lawtendo lawyers immediately at a small fee of Rs 600.

Talk to a Lawyer

If Income From Any Source Is Exempt, Then Can Loss From Such Source Be Adjusted Against Any Other Taxable Income?