Part XIV - AMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC. (From Section 156 to Section 189)
Restriction on set-off of house property loss: excess loss cannot be offset against other heads of income. The amendment provides that when income from house property yields a loss for an assessment year and the assessee has income under other heads, the assessee shall not be entitled to set off that loss to the extent it exceeds a specified monetary threshold against income chargeable under other heads; this restriction operates notwithstanding sub-sections permitting set-off.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Restriction on set-off of house property loss: excess loss cannot be offset against other heads of income.
The amendment provides that when income from house property yields a loss for an assessment year and the assessee has income under other heads, the assessee shall not be entitled to set off that loss to the extent it exceeds a specified monetary threshold against income chargeable under other heads; this restriction operates notwithstanding sub-sections permitting set-off.
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