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Income Tax - Highlights / Catch Notes

Home Highlights February 2021 Year 2021 This

Allowability of set off of business loss against the interest ...


Section 71(1) Income Tax Act: Set Off Business Losses Against Other Income, Reducing Tax Liability.

February 11, 2021

Case Laws     Income Tax     AT

Allowability of set off of business loss against the interest income - as per section 71(1) of the Act, assessee is entitled to set off business loss with income from other sources. - AT

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