TaxTMI 
TaxTMI 
Set off of loss from one head against income from another
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....e head "Capital gains", he shall, subject to the provisions of this Chapter, be entitled to have the amount of such loss set off against his income, if any, assessable for that assessment year under any other head. (2) Where in respect of any assessment year, the net result of the computation under any head of income, other than "Capital gains", is a loss and the assessee has income assessable un....
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....d the assessee has income assessable under any other head of income, the assessee shall not be entitled to have such loss set off against income under the other head.] 4[(3A) Notwithstanding anything contained in sub-section (1) or sub-section (2), where in respect of any assessment year, the net result of the computation under the head "Income from house property" is a loss and the assessee has ....
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....1. Set off of loss from one head against income from another-Where in respect of any assessment year, the net result of the computation under any head of income is a loss, the assessee shall, subject to the provisions of this Chapter, be entitled to have the amount of such loss set off against his income, if any, assessable for that assessment year under any other head." Earlier, Amended vid....