Carry forward of house property loss allows interest-related deficits to be carried forward and set off against future house property income. A provision permits carry forward of losses under the head Income from house property when the net result is a loss; the carry forward is restricted to ... Summary
Carry forward of house property loss allows interest-related deficits to be carried forward and set off against future house property income.
A provision permits carry forward of losses under the head Income from house property when the net result is a loss; the carry forward is restricted to the portion relating to interest on borrowed capital and such carried forward interest losses may be set off only against income under the head Income from house property in subsequent assessment years.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.