Section – 71 : Set off of loss from one head against income from another
February 28, 2018
Section – 71B : Carry forward and set off of loss from house property
February 28, 2018

Section – 71A : Transitional provisions for set off of loss under the head “Income from house property”

71A. Where in respect of the assessment year commencing on the 1st day of April, 1993 or the 1st day of April, 1994, the net result of the computation under the head “Income from house property” is a loss, such loss insofar as it relates to interest on borrowed capital referred to in clause (vi) of sub-section (1) of section 24 and to the extent it has not been set off shall be carried forward and set off in the assessment year commencing on the 1st day of April, 1995, and the balance, if any, in the assessment year commencing on the 1st day of April, 1996, against the income under any head.

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