Restriction on set-off of house property loss prevents using that loss against other income heads when other income exists. A new provision bars set-off of losses under the head "Income from house property" against income under any other head where the net computation for that ... Summary
Restriction on set-off of house property loss prevents using that loss against other income heads when other income exists.
A new provision bars set-off of losses under the head "Income from house property" against income under any other head where the net computation for that property is a loss and the assessee has income from other heads; a specified category of property is excluded and the rule applies notwithstanding earlier sub sections.
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