Clubbing of Negative Income

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tion 99. For the purposes of including the income of specified persons in the income of the individual the word "income" will include a LOSS. For clubbing provisions, income includes losses. This means if any one who has loss during the financial year and such loss has comes under the clubbing provision then losses of such type will be added even if it reduces the net tax liability. Without ....