TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Income-tax Act: Losses from House Property Cannot Offset Other Incomes, Section 71(4) Effective April 1993.</h1> Section 71 of the Income-tax Act is amended by the Finance Act, 1992, effective April 1, 1993. A new sub-section (4) is added, stating that if the computation of income from house property, excluding certain specified properties, results in a loss for any assessment year, the assessee cannot offset this loss against income from other heads. This provision overrides sub-sections (1) and (2) of the same section, thereby restricting the set-off of losses from house property against other income categories.
TaxTMI 
