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    What does the term "inter-source adjustment" mean?

    Answered 25-Nov-2022

    If a taxpayer has a loss from any source falling under a specific head of income in any given year, he or she is permitted to offset that loss against revenue from any other source falling under the same head.

    Intra-head adjustment is the process of adjusting a loss from one source under one head of income against an income from another source under that same head of income, for example, adjusting other sources of business A against firm B's profit.

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