Comments

2 comments

  • Omprakash

    i was in govt service and took vol retirement Oct end this year at age 57.. 

    my pension after commutation would be 50k and rental income from property is approx 1 lakh pm. Being a medical dr by qualification (though not practising but in admin role last 20 years) i am contemplating med practice asa self employed professional. Expecting losses first few years say 3 years on account of rent of premises, professional upgrade online trg being undertaken, new car loan interest and depreciation etc. in case of such losses will the losses and depreciation be deducted from income of pension and rent as above. Many thanks.

    1
    Comment actions Permalink
  • Team Quicko

    Hi Omprakash,

    Professional losses cannot be set off against the pension income or rent income. However, it can carried forward for 8 years and set off against future professional income. 
    Read more about set off and carry forward of losses.  

    0
    Comment actions Permalink

Please sign in to leave a comment.

Powered by Zendesk