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of <h1>Finance Bill 2017 Amends Section 71: Limits House Property Loss Set-Off to 2 Lakh Rupees Annually from 2018</h1> Clause 31 of the Finance Bill, 2017 amends section 71 of the Income-tax Act by introducing sub-section (3A), effective April 1, 2018. This amendment limits the set-off of loss from 'Income from house property' against other income heads to a maximum of two lakh rupees per assessment year. This restriction applies notwithstanding the provisions of sub-sections (1) and (2) and is applicable from the assessment year 2018-2019 onwards.
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