https://www.taxtmi.com/forum/issue?id=1226 Losses on capital assets that are not exempt cannot be set off against income exempt under section 10 because exempt income is not part of taxable income or gross total income; accordingly, the set-off and carry-forward provisions (notably the principles in Section 74 and Section 70(2)) preclude using exempt capital gains to absorb non-exempt capital losses for carry-forward calculations. en-us Sun, 31 May 2009 09:24:20 +0530 Thu, 23 Jan 2025 15:58:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1226 Losses on capital assets that are not exempt cannot be set off against income exempt under section 10 because exempt income is not part of taxable income or gross total income; accordingly, the set-off and carry-forward provisions (notably the principles in Section 74 and Section 70(2)) preclude using exempt capital gains to absorb non-exempt capital losses for carry-forward calculations. Discussion-Forum Income Tax Sun, 31 May 2009 09:24:20 +0530 https://www.taxtmi.com/forum/issue?id=1226