Category Archives: Losses

Loss of Income from House Property

myITreturn

House property loss can be possible in following 2 cases- Self occupied property:- Gross Annual Value of self occupied property is always NIL. If the taxpayer has borrowed a housing loan against his self occupied property, then the interest paid on such loan is deducted from his Net Annual Value… Read more »

Loss from “Income from other sources”

myITreturn

Loss, in simple terms, means excess of expense over income. Loss arises when income earned during the financial year by the taxpayer is less than the expenditures incurred by him during the year. There might be house property loss or capital loss or loss from business/profession/other income. Losses under “Income… Read more »

Loss from Business/Profession

myITreturn

Loss, in simple terms, means excess of expenses over incomes. Loss arises when income earned during the financial year by the taxpayer is less than the expenditures incurred by him during the same year. There might be house property loss or capital loss or loss from business/profession/other income. Losses under… Read more »

Set-off of Capital Loss

myITreturn

Loss, in simple terms, means excess of expenses over income. Loss arises when income earned during the financial year by the taxpayer is less than the expenditures incurred by him during the year. There might be house property loss or capital loss or loss from business/profession/other income. The assets which… Read more »