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Set off of house property with salary and Long term capital gain
Applicable from 2018-19 onwards .... The loss from house property can be set off against Income from Other Heads .... upto limits of Rs 2 lakhs for each financial year.
The sequence of heads is irrelevant.
You can carry forward the remaining loss amount to the next fiscal year to set off.
Upto Rs. 2 lakhs means maximum upto Rs. 2 lakhs, not above that...
If loss from head IFHP is Rs. 3 lakhs... One can set off loss of Rs. 2 lakhs against any other head in same financial year, and remaining loss of Rs. 1 lakh is carried forward (max 8 years) that can be adjusted only against IFHP.
My Pleasure..
Sale of securities ,where I have to show in ITR ??
@ Swapnil
You are welcome...
Under Schedule CG
in case of long term CG, with STT paid.. under schedule 112A....
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