Section 70 of Income Tax Act 1961- Set Off Of Loss From One Source Against Income From Another Source Under The Same Head Of Income

Section 70 of Income Tax Act 1961- Set Off Of Loss From One Source Against Income From Another Source Under The Same Head Of Income:

Save as otherwise provided in this Act, where the net result for any assessment year in respect of any source falling under any head of income is a loss, the assessee shall be entitled to have the amount of such loss set off against his income from any other source under the same head.