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          Income Tax

          Carry forward and set off of loss from House Property - Section 71B

          Set off and Carry forward of Losses

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          Carry forward of house property loss: remaining loss restricted to set off against house property income only. Loss under the head of House Property can be set off against any other head in the current year; the unabsorbed portion is carried forward for eight assessment years and may be set off thereafter only against Income from House Property. Carry forward is allowed even if the return is filed after the due date under section 139(1). If an Individual, HUF or co-operative society opts for the specified optional tax regimes, house property loss cannot be set off from other heads of income.
                          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: remaining loss restricted to set off against house property income only.

                                Loss under the head of House Property can be set off against any other head in the current year; the unabsorbed portion is carried forward for eight assessment years and may be set off thereafter only against Income from House Property. Carry forward is allowed even if the return is filed after the due date under section 139(1). If an Individual, HUF or co-operative society opts for the specified optional tax regimes, house property loss cannot be set off from other heads of income.


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