Which of the following deduction/exemption/set-off of losses are not allowable while computing income under respective head of income and total…

CA Final · Direct Tax Laws and International Taxation · MTP · January 2026
Which of the following deduction/exemption/set-off of losses are not allowable while computing income under respective head of income and total income of an individual as per section 115BAC? (i) Deduction for interest on housing loan in respect of self-occupied property (ii) Deduction for Interest on housing loan in respect of let-out property (iii) Exemption in respect of agricultural income (iv) Exemption in respect of minor child income included in the income of parent (v) Set-off of loss under the head house property against income under any other head (vi) Standard Deduction u/s 16(ia) The correct answer is
(A) (ii), (iii) & (vi)
(B) (i), (ii), (iii) & (vi)
(C) (i), (iv) & (v)
(D) (ii), (iv), (v) & (vi)

Suggested Answer and Working Notes:

Correct Answer: Option (C)

(i), (iv) & (v)

Topics: Transfer Pricing, Double Taxation Relief, Non-Resident Taxation

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