Setting off Business Loss Against Salary

1. Setting off business loss against salary I am employed with a company. I also had a part-time business—running a cyber cafe. Can I offset business loss incurred while running the cyber cafe against my salary income? Megha Datta, New Delhi Yes, the loss that you incurred in your business can be offset against your salary income. However, if the loss is not wholly set off against your salary income that year, that much of the loss, which is not set off, can be c

This article was originally published on September 04, 2003.