Question

Which of the following statements is true in the context of the Income Tax Act, 1961?

A Loss under house property can be set off against salary income to the extent of ₹2,00,000.
B Loss from business or profession can be set off against salary income.
C Short-term capital loss can be set off against winnings from lotteries.
D Long-term capital loss can be set off against income from house property.
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