11 January 2009
Q. There is one house property having 3 Floor ( G, 1st , 2nd). 2nd floor is rented with Rs.8000/- P.M.and others self-occupied. This house is mortgaged with bank and yearly interest(not installment) is Rs. 5.00 lacs( five lacs). This person has other income from business which is also loss. Question is how much loss under ' Income from House Property' can be carried forward? Also advice whether it is wise to do so (carry forward), Is there any hassle with Assessing officer enquiring?
11 January 2009
If the business loss is on account of unabsorbed depreciation, then the unabsorbed depreciation can be carried forward to any number of years.
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