Carry forward and set off of loss from House Property - Section 71B - Income Tax - Ready Reckoner - Income Tax

Carry forward and set off of loss from House Property - Section 71B Where the loss under the head house-property: i. Can be SET OFF in current year against any other head of income ii. 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) . If Individual/HUF or co-operative society opts to be taxed u/s 115BAC or 115BAD , as the case may be, the loss under the head from HP shall not be allowed to be set off from any other head of income.