Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Even if the income is treated under the head income from other ...


Taxpayers Must Offset Losses from Other Sources When Calculating Total Income, Including Business Profits Losses.

November 5, 2013

Case Laws     Income Tax     AT

Even if the income is treated under the head income from other sources even then the total income of the assessee would be computed after setting off losses under other sources including under the head profits from business - AT

View Source

 


 

You may also like:

  1. Exemption u/s 10B - 100% EOU - there was a loss in the Unit eligible for deduction u/s. 10B and there was a business income in an another Unit. Therefore, while...

  2. Set off of brought forward business loss against income from other sources - As provision of section 72 are very clear that brought forward business loss can only be set...

  3. Set off of the brought forward losses against the income from other sources - Ld. CIT (A) has rightly decided that, “although interest income has been shown as income...

  4. Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

  5. Loss on account of Mark to Market - Speculation or non speculation loss - the gross total income mainly consists of income from house property, income from capital...

  6. Loss from mutilated currency notes claimed as business loss/business expenditure in computation of taxable total income - AO to allow the loss to the extent of 20%

  7. Set off of business loss against interest income taxable under the head income from other sources - as the assessee has not carried out any business activity during the...

  8. The loss incurred in share trading business by such companies, i.e. like the assessee, will not be treated as speculation business loss but normal business loss, and...

  9. ITAT ruled on long-term capital gains from unlisted shares under India-Mauritius DTAA, specifically addressing loss carry-forward without offsetting against capital...

  10. Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

  11. Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

  12. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

  13. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

  14. TP Adjustment - When foreign exchange loss is to form part of the total base of the taxpayer for the purpose of charging a mark up to its AEs as it drives income from...

  15. Mode and manner of set off of loss - loss from one head set off against other head of income - business loss should be first set off against income from house property...

 

Quick Updates:Latest Updates