set off of loss on business head against the income from other sources

Querist : Anonymous (Querist) 27 September 2010 This query is : Resolved
Income from salary head is not allowable to set off against the loss in income from business of trading(viz.potato trade)

Remuneration/ salary to a MP/MLA assessed to income tax under other sources head.

Generally loss on business head income will be set off against the income of other sources income (viz.interest).

My query is that whether the remuneration of MP/MLA (other sources head income ) will be set off against the loss on business head income.

Need the answer urgently. Anybody can help me.

G

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