10-11-2004, 03:04 AM
hay,
this means that if u have income under other four heads but u have loss under the head income from business. Suppose
Income from salary 90000
Income from property 80000
Income from business (30000)
etc _______
total/taxable income 140000
It means that loss from business is also included in the calculation of total/taxable income, that is what 'income also includes loss'..
i hope that u will be satisfied, although the reply is late
this means that if u have income under other four heads but u have loss under the head income from business. Suppose
Income from salary 90000
Income from property 80000
Income from business (30000)
etc _______
total/taxable income 140000
It means that loss from business is also included in the calculation of total/taxable income, that is what 'income also includes loss'..
i hope that u will be satisfied, although the reply is late
