Section 70 enables set off of losses under one source of income against another source under the same head, except:
A. Long term Capital Losses
B. Speculation Loss & Loss from Specified business
C. Loss from the activity of owning and maintaining race horses.
D. All of the above
Answer:D
Section 70 enables set off of losses under one source of income against another source under the same head, except:
A. Long term Capital Losses B. Speculation Loss & Loss from Specified business C. Loss from the activity of owning and maintaining race horses. D. All of the above