house property loss

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anchal shrivastava (Querist)
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04 June 2009 if a loss occur under the head house property,and if it could not be set off in the same assessment year,it will allowed to be carried forward to be carried forward to claim it as a set off in the subsequent years under any head of income or only from the same head i.e.,house property?

Vipul J. Bhavsar

Vipul J. Bhavsar (Expert)
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04 June 2009 It should be noted that any carry forward of loss can be set off only against the same head of income. This applies to any kind of loss carried forward e.g STCL, LTCL against Capital Gains, business loss against PGBP etc.
So in the above case Loss under the head house property can be set off only against any income from House property in the subsequent year.

CA.Nikhil Gupta

CA.Nikhil Gupta (Expert)
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04 June 2009 I agree with Mr Vipul

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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04 June 2009 Agreed

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