Help needed: Defintion of income

[Ali Akbar]

<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by shukla</i>
<br />hello members

i got a problem in taxation.One of the definitions i.e;income says that

any loss of income also include in the definition of income, what this means plz

2+2=6**@**
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

Hi

It means that it will reduce your taxable income.

In other words if you have loss under one of the heads of income, then negative amount will be added in to your income and hence will reduce your taxable income.

ICAPians, the unparalleled..