Losses from house property
This query is : Resolved
CA Jasbir Singh
(Querist)
28 June 2012
can losses from house property set off against business income and can be carried forward if yes for how many years?
28 June 2012
Loss under the head Income from House Property can be set off against income under any other head.
Such loss can be carried forward for 8 assessment years. However, after carry forward it can be set off only against Income from house property.
Such loss can be carried forward for 8 assessment years. However, after carry forward it can be set off only against Income from house property.
CA Prashant Gupta
(Expert)
28 June 2012
It can be set off against any other head in year which the loss is occured and in carry forward it can only be set off against income from house property.
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