House property loss adjustment with carry forward loss from previous year

Nikhil Sangani (1 Points)

01 August 2019  

Hi,

I have a query regarding situation below for tax implication :-

1. Carry forward loss from previous year under head house property loss :- 60000

2. Current year house property loss :- 120000

with above, does it mean that i can adjust my this years salary with 180000 as the setoff for loss under head House property loss or does the 60000 loss from previous year can only be adjusted if i had a gain instead of loss this year under head House property loss?

The current ITR2 actually is assuming the later and just carries forward the 60000 for future years.

Thanks in advance

Nikhil