Income tax law and practice II (13/03/2023)

Set of loss under the same head of income comes under section

• A) Sec 60

• B) Sec 70

• C) Sec 80

• D) None of the above

Set of loss against income under other heads of income under section……

• A) Sec 51

• B) Sec 61

• C) Sec 71

• D) None of the above

Loss from the house property can be set off against ……

• A) Business profession

• B) Capital gains

• C) Salaries

• D) All of the above

Long term capital gain can be carried forward for

• A) 8 subsequent assessment years

• B) Indefinitely

• C) 6 years

• D) None of the above

Short term capital loss can be set off in the same assessment year from

• A) Long term capital gains

• B) Short term capital gold

• C) Both

• D) None of the above

Loss from specified business can be set off

• A) Income other than salary

• B) Any head of income

• C) Profits of any other specified business only

• D) None of the above

Compulsory filing of loss return has been defined u/s

• A) 80

• B) 70

• C) 60

• D) None of the above