CAF-2 · Chapter 11 · Question 1 of 15
Which of the following losses can be legally set-off against income chargeable under the head "Salary" in the same tax year?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) D) No loss can be set-off against income from salary
Explanation
If a person sustains a loss under any head of income, it can be set-off against any other head of income *except* for income under the head "Salary". No loss from any head can be adjusted against salary income.
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