What is the difference between inter-source and inter-head adjustment?

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• What are the conditions for intra-head and inter-head set off of losses?

  Loss from speculation business cannot be set of against profit from a non-speculation business, but loss from non-speculative business can be set-off against speculation income. Loss under Capital Gains (Long term or short term) cannot be set-off ...

• Can there be a loss under the head 'Salaries'?

  No. There cannot be a loss under the head of salaries.

• Brought Forward losses

  Losses which can be set off against the current year income can be carried forward and termed as the brought forward losses. The adjustment for the losses is intra head or inter head intra head(business loss can be set off against business only) ...

• What are the conditions to keep in mind while carrying forward losses for set off?

  Following conditions must be kept in mind while carrying forward losses for set off: Any losses of past year can be set-off only against income from that respective head of income (Inter head adjustment is not possible). However, unabsorbed ...

• What is the difference between the Gross Total Income and Total Income?

  Gross Total Income (GTI) is the sum of all the incomes received by the taxpayer from various sources. Certain deductions stated under section 80C-80U are allowed by the I-T Act to reduce the taxpayer's taxable income. After deductions, the Total ...