Losses from house property

This query is : Resolved

CA Jasbir Singh (Querist)
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28 June 2012 can losses from house property set off against business income and can be carried forward if yes for how many years?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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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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