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Section 70 – Income Tax Act, 1961

Income Tax Act, 1961

 

Section 70- SET OFF OF LOSS FROM ONE SOURCE AGAINST INCOME FROM ANOTHER SOURCE UNDER THE SAME HEAD OF INCOME.

 

Save as otherwise provided in this Act, where the net result for any assessment year in respect of any source falling under any head of income is a loss, the assessee shall be entitled to have the amount of such loss set off against his income from any other source under the same head.

 

 

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Income Tax Act, 1961 

 

Indian Laws – Bare Acts

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