Carry Forward & Set Off Losses from House Property Sec 71B

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SEC – 71B: CARRY FORWARD AND SET OFF OF LOSS FROM HOUSE PROPERTY

Where the loss under the head house-property:

  1. Can be SET OFF in current year against any other head of income
  2. Balance of the loss to be carried forward for 8 Assessment Years and SET OFF only against “Income from House Property”

Note: Loss under the head House Property can be carried forward even if ROI is filed after the due date of filing ROI under section 139(1).

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