SEC – 71B: CARRY FORWARD AND SET OFF OF LOSS FROM HOUSE PROPERTY
Where the loss under the head house-property:
- Can be SET OFF in current year against any other head of income
- Balance of the loss to be carried forward for 8 Assessment Years and SET OFF only against “Income from House Property”
Note: Loss under the head House Property can be carried forward even if ROI is filed after the due date of filing ROI under section 139(1).