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How to Avoid House Loss - Setoff, Validation Error; What is Mini.Chargeable to TAX

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Baskaran

55 Points Posted on 29 July 2024

To CAClubindia.com,

Q1:Can I carry forward House Loss to next Yr without Setoff with other Gains like LTCG, STCG, Other Income. If Not, minimum / economically to which I can setoff.

On filing in .gov.in eportal, in CYLA, it forces to setoff all Gains, but on validating at final gives LTCG can be set off with LTCG only. If I exclude LTCG in CYLA and tried to setoff other gains, compute setoff does NOT allow, gives error as max. Loss NOT setoff. Refer attachment.

The automation keeps cycles, can any one give solution to avoid this and file time being.

Q2: What is the “Taxable income after adjusting for Min.chargeable to TAX” . It gave Rs.51799 for STCG of 32,4322. How it is coming and how to avoid?

Requesting to help on emergency to file IT return. Thanks…

Attached File : 3917280 20240729232012 itr query.zip downloaded: 117 times

Replies (2)

Quick Summary

This discussion addresses two key issues for UK taxpayers filing their IT returns. Firstly, it questions how to carry forward house losses to future years without mandatory setoff against other gains like LTCG or STCG, and explores the minimum setoff required. Secondly, it seeks clarification on the meaning and calculation of 'Taxable income after adjusting for Min.chargeable to TAX', particularly concerning STCG.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121534 Points Posted on 30 July 2024

Even if any adjustment may be tried in ITR, but processer processes as per the rules set, as incorporated in the utility. so, finally everything goes waste, either by defective notice or demand.