Carry forward of house property loss limited to set off only against future house property income within prescribed succeeding years. When loss under the head Income from house property cannot be wholly set off against other heads in a tax year, the unabsorbed portion is carried forward and may be set off only against income from house property in subsequent tax years. Each amount not wholly set off is carried forward similarly. Such carried forward losses are available only for a limited number of immediately succeeding tax years following the year the loss was first computed, after which any remaining loss is not available.
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.
Carry forward of house property loss limited to set off only against future house property income within prescribed succeeding years.
When loss under the head Income from house property cannot be wholly set off against other heads in a tax year, the unabsorbed portion is carried forward and may be set off only against income from house property in subsequent tax years. Each amount not wholly set off is carried forward similarly. Such carried forward losses are available only for a limited number of immediately succeeding tax years following the year the loss was first computed, after which any remaining loss is not available.
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