whether unabsorbed carried forward house property loss can be set off against any head of income
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House property loss
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C/f house property loss can be setoff against income from house property only.
As per the provisions of section 71 B of Income Tax Act 1961, carryforwarded HP Loss can be adjusted only against Income From HP.
But Loss under HP can be setoff against any other heads of income during the year in which it is incurred.
any carry forward loss only can set off by same head.
No. Unabsorbed carry forward losses u/h. house property can be set off under same head. It can be carried forwarded for 8 years.
Dear Friends,
Anybody facing problem with Income Tax website ?...
We are able to setoff up to ₹2lakhs in the year in which the loss is incurred.Its a recent amendment
no it can be setoff only from the same head of income and not from other head of income upto Rs 200000
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