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

SEC – 71B: CARRY FORWARD AND SET OFF OF LOSS FROM HOUSE PROPERTY Where the loss under the head house-property: Can be SET OFF in current year against any other head of income Balance of the loss to be carried forward for 8 Assessment Years and SET OFF only against “Income from House Property” Note: … Read more

Important Tax Matters When You Are Selling the Property

People are always keen to find themselves their first home. For this purpose, they work tirelessly day-in and day-out. However, before one buys or sells a house there are certain tax implications that needs to be taken care of. Without prior knowledge about applicable tax liability, house owners and sellers can find themselves into tax … Read more

5 Income Tax Benefits to Own a House (Updated) After Budget 2017

Owning a residential house is a dream of every person. The privilege of owning a house not only gives you the liberty to operate with ultimate freedom with respect to construction and modification, but also lets you have a status symbol. One thing that you would be pleased to hear is that even the Government … Read more