Set-off of loss from one source against income from another source

Losses under one source can be set off against income from another source under the same head of income. Intra-head set-off rules.

Key provisions

• Losses under one source can be set off against income from another source under the same head of income. Intra-head set-off rules.

Use via API

curl https://api.thynktax.com/v1/tax-law/sections/by-2025-ref/140

{
  "act_2025_ref": "140",
  "old_reference": "Section 70, Income Tax Act 1961",
  "title": "Set-off of loss from one source against income from another source",
  "category": "Section",
  "limit_or_rate": "-",
  "applicable_to": "-",
  "effective_from": "2026-04-01"
}