https://www.taxtmi.com/acts?id=4264 Set-off permits an assessee to adjust a net loss under any head (other than Capital gains) against income under other heads in the same assessment year; where the loss arises and the assessee has capital gains it may be set off against any head including Capital gains. Loss under Profits and gains of business or profession cannot be set off against Salaries, and Capital gains loss cannot be set off against other heads. House property loss is limited for set-off to the extent it exceeds the prescribed threshold. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 11:59:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4264 Set-off permits an assessee to adjust a net loss under any head (other than Capital gains) against income under other heads in the same assessment year; where the loss arises and the assessee has capital gains it may be set off against any head including Capital gains. Loss under Profits and gains of business or profession cannot be set off against Salaries, and Capital gains loss cannot be set off against other heads. House property loss is limited for set-off to the extent it exceeds the prescribed threshold. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4264