House Property Loss - Regards

Hi Divya!

yes, current year hp loss can be set off against any heads of income and hence it can be done..

Regards

- Harie  

Look Dear Divya .......

Return Filling Criteria For Only Carry Forwarding Lossess...........

& Return Filling is Not Compuls For Inter Head Adjusment.

So It Can Be Adjusted.

Thank u frnds......

Originally posted by : AYUSH AGRAWAL
	Look Dear Divya ....... Return Filling Criteria For Only Carry Forwarding Lossess........... & Return Filling is Not Compuls For Inter Head Adjusment. So It Can Be Adjusted.

 Agree with ayush

HP Losses can be setoff against any income except winning and lotteries even Salaries....

Loss under the head house property can be set- off against any heads of income even after due date. As per Section 139(3) read with section 80 the loss can be set off and carry forward only if  return should be filled under section 139(1).  

But loss under the head house property can be set - off in later years as well, there is no restriction to file the return on time under section 139(1).

Therefore, loss under the head house property can be set-off with business income even after the due date.

Originally posted by : Bhupinder
	Loss under the head house property can be set- off against any heads of income even after due date. As per Section 139(3) read with section 80 the loss can be set off and carry forward only if  return should be filled under section 139(1).   But loss under the head house property can be set - off in later years as well, there is no restriction to file the return on time under section 139(1). Therefore, loss under the head house property can be set-off with business income even after the due date.

agreed

totally agree with harie.

Originally posted by : Bhupinder
	Loss under the head house property can be set- off against any heads of income even after due date. As per Section 139(3) read with section 80 the loss can be set off and carry forward only if  return should be filled under section 139(1).   But loss under the head house property can be set - off in later years as well, there is no restriction to file the return on time under section 139(1). Therefore, loss under the head house property can be set-off with business income even after the due date.

agreed

There is no prohobition on set off of current years losses against current year's income The prohobition is only for carry forward. So loss canbe set off even if return is filed late