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of <h1>Taxpayers Can Offset Losses Within Same Income Head, Excluding Capital Gains, Under New Income Tax Bill Provision</h1> Clause 108 of the Income Tax Bill, 2025 addresses set-off of losses under the same head of income. The provision allows taxpayers to offset losses from different sources within the same income head, excluding capital gains. It introduces nuanced rules for handling losses, particularly distinguishing between long-term and short-term capital assets. The clause aims to ensure equitable taxation by enabling net income calculation and providing a systematic approach to managing tax liabilities across various income sources.
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