ITR2 schedule CYLA

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This discussion addresses a query regarding the ITR 2 CYLA schedule and the correct calculation of House Property (HP) losses. The user experienced discrepancies in how HP losses were being set off and carried forward online, particularly when trying to file under the old tax regime. The response clarifies that the online portal defaults to the new tax regime, which may explain the calculation differences, and that belated returns under the old regime cannot be filed online.

arun bahl

arun bahl (Querist)
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06 August 2024 I am trying to ON LINE fill ITR 2 under old regime
Income details as under
Salary. 11,00,000
Other income. 56000
Income from HP
A. Rent received 120000
B. maintenance 30%. = 40000
C. Interest on home loan. 358000
Net income from HP A-B-C= 278000
Capital gain 120000
B/F. Loss from HP 88000
In schedule CFL after computing set off is says total loss from HP as 278000+ 88000= 366000
However in schedule CYLA it shows loss from HP as 278000 of which 200000 is set off against income and 78000 is carried forward.
I feel CYLA should show losses as 366000 of which 200000 is set off against income and 166000 should get carried forwad.
Could you please confirm why previous years losses on HP are not getting added where as as per act it can get carried forward till 8 years