Set off of losses: cross-head relief allowed with specific limits on business-to-salary and house property losses.

Losses under any head except Capital gains may be set off against income under any other head in the same tax year, subject to chapter provisions. A business or profession loss cannot be set off against Salaries, a house property loss can be set off against other heads only up to a statutory limit, and Capital gains losses cannot be set off against income under any other head.

---

---

---