Why is set-off for TDS not permitted between profit and loss in different months?
The Income Tax laws have currently permitted set-off for TDS purpose between losses against the profit earned only within the month. The set-off due to Income tax laws are not permitted between profits and losses of different months. Disclaimer and Note: “The aforesaid method of computation of TDS is applicable for the Financial Year (FY) 2008-09 on the basis of order issued by Income-tax department under section 195(2) of the Income-tax Act, 1961 which is valid until March 31, 2009. The methodology for the subsequent FYs is dependent on order to be received from income-tax authorities. The current methodology will continue provided similar order under section 195(2) is issued by the Income-tax authorities for subsequent years. Otherwise, TDS will be applicable in accordance with the then prevailing tax laws. Adequate efforts have been taken to ensure that material contained in this website is error free. The material given is only intended to provide general information to the investo
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