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Chapter 1 of 12 • Page 1 of 248🔒 Protected PDF • Watermarked
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Subject KnowledgeCCI Management Trainee Accounts 01 Sep 2026 Shift 2
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Under Section 70 of the Income Tax Act, 1961, intra-head set-off is NOT permitted for:

A

Loss from one house property against another house property income

B

Speculative business loss against non-speculative business profit

C

Loss from one source under “Other Sources” against another source

D

Short-term capital loss against short-term capital gains

Correct Answer

📚 GK • GK Verified SolutionSubject KnowledgeCCI Management Trainee Accounts 01 Sep 2026 Shift 2
Option B

Speculative business loss against non-speculative business profit

Quick Summary:

Practice and solve "Under Section 70 of the Income Tax Act, 1961, intra-head set-off is NOT permitted for:..." for Subject Knowledge - CCIManagement Trainee Accounts 01 Sep 2026 Shift 2. The correct answer is Option B: Speculative business loss against non-speculative business profit. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.

Concept & Solution

Practice and solve "Under Section 70 of the Income Tax Act, 1961, intra-head set-off is NOT permitted for:..." for Subject Knowledge - CCIManagement Trainee Accounts 01 Sep 2026 Shift 2. The correct answer is Option B: Speculative business loss against non-speculative business profit. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.

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