Set off of house property loss relating to interest on borrowed capital carried forward to subsequent assessment years. Where the computation under the head Income from house property yields a loss for assessment years commencing 1 April 1993 or 1 April 1994, the portion of ... Summary
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Set off of house property loss relating to interest on borrowed capital carried forward to subsequent assessment years.
Where the computation under the head Income from house property yields a loss for assessment years commencing 1 April 1993 or 1 April 1994, the portion of that loss attributable to interest on borrowed capital not set off shall be carried forward and set off in the assessment year commencing 1 April 1995, and any remaining balance shall be carried forward and set off in the assessment year commencing 1 April 1996 against income under any head.
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