03-15-2011, 04:21 PM
I am sorry lagta hay main bat convey neh ker payaa
1)Income from Property is separate head of income u/s 11 , Calculation is discussed u/s 15,16 there is no possibility of loss as it is on deemed income ie gross amount of rent and no deductions allowed
2) Income from Bussiness is a separate head of income u/s 11 and calculation is dicussed u/s 18 to 36. Loss may be there in any year.
3)Setting off of losses under different heads is discussed u/s 56 which does not disallow the set off of losses from business with property income as the same is not under FTR if the deduction u/s 155 s not made
1)Income from Property is separate head of income u/s 11 , Calculation is discussed u/s 15,16 there is no possibility of loss as it is on deemed income ie gross amount of rent and no deductions allowed
2) Income from Bussiness is a separate head of income u/s 11 and calculation is dicussed u/s 18 to 36. Loss may be there in any year.
3)Setting off of losses under different heads is discussed u/s 56 which does not disallow the set off of losses from business with property income as the same is not under FTR if the deduction u/s 155 s not made
