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Set off of loss from self occupied house property

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 November 2013 In case, there is a loss from self occupied house property, then is there any sequence of its set off or it can be set off from any other heads in same assessment year????
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
15 November 2013 THERE IS AN INBUILT SEQUENCE AS PER SECTION 71(4).
.
FIRST YOU HAVE TO SET OFF U/S 71(1) AGAINST ANY INCOME OTHER THAN CAPITAL GAINS.
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STILL THERE REMAINS A LOSS , IT CAN BE SET OFF U/S 71(2) AGAINST CAPITAL GAINS.
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Querist : Anonymous

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Querist : Anonymous (Querist)
15 November 2013 THANX A LOT SIR....
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