Set-off of a loss under one head against income under another head in the same year is allowed by:
ASection 71
BSection 73
CSection 74A
DSection 80A
Answer & Solution
Correct answer: A. Section 71
Section 71 deals with inter-head set-off for the same assessment year.
Keep practising Aggregation of Income, Set Off of Losses and Deductions
Browse all Aggregation of Income, Set Off of Losses and Deductions questions for CA Inter, or explore more Taxation topics.
Related questions
For an individual under 80DDB, 'dependant' includes the spouse, children, parents and:For 80DDB, the deduction is reduced by amounts received from:For a senior citizen, the 80DDB limit rises to:Section 80DDB allows the amount actually paid or Rs 40,000, whichever is:A resident supports a disabled dependant and spends on treatment; the base 80DD deduction If the dependant predeceases, the 80DD deposit is:Besides spending on treatment, 80DD also covers payment into a scheme of:Section 80DD grants a deduction for expenditure on a dependant who is: