https://www.taxtmi.com/acts?id=45708 Section 70 permits set-off of losses within the same non-Capital Gains head against income from any other source under that head; for Capital Gains, short-term capital losses may be set off only against short-term capital gains and non-short-term capital losses only against non-short-term capital gains. Section 71 allows a non-Capital Gains head loss to be set off against income under any other head when no Capital Gains exist, and where Capital Gains exist the loss may be set off against any head including Capital Gains or, at the assessee's choice, only against non-Capital Gains heads, subject to Chapter provisions. en-us Fri, 29 Nov 2024 17:19:38 +0530 Fri, 29 Nov 2024 17:19:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45708 Section 70 permits set-off of losses within the same non-Capital Gains head against income from any other source under that head; for Capital Gains, short-term capital losses may be set off only against short-term capital gains and non-short-term capital losses only against non-short-term capital gains. Section 71 allows a non-Capital Gains head loss to be set off against income under any other head when no Capital Gains exist, and where Capital Gains exist the loss may be set off against any head including Capital Gains or, at the assessee's choice, only against non-Capital Gains heads, subject to Chapter provisions. Act-Rules F. Acts / Amendment Acts Fri, 29 Nov 2024 17:19:38 +0530 https://www.taxtmi.com/acts?id=45708