commercecurrents

  Set off and Carry forward Losses                                                                                                                                   Dr.G.VINCENT   Set Off losses - Meaning In simple meaning, "Deducting losses from income during the assessment year itself" 1)Intra head Adjustment It means deducting losses of one head  from income of same head.   Example:            Income from House Property Income from House 1 -  Rs.50,000  Loss from House -2 Rs. 20,000     House 1 50,000 House 2 -...