how much amt. can be set off against any other head of income in the year of loss from income from house property??
6 Replies
Saket Mishra
(367 Points)
Replied 29 June 2019
refer to sec 71(3A) max 200000 loss frm HP can be setoff.....
Om Goyal
(445 Points)
Replied 30 June 2019
Sir , i seek one clarification on IMP POINT on HP Loss
in itr - 2 , iI claimed in AY 19-20 INT Loss on loan from HP Rs 2.01 Lakh & the whole amount of 2.01 lakhs Auto shifted in ITR Automatically to Set off Loss to Next year in Cyla Bala etc. & Other Colmns w/out adjustment of 2 Lakh from _other Head Income in Same Year whereas only Amount of Rs 1000- in Excess of 2 Lakh should have been tfd to Col Set off to next AY. in Auto Calculation in ITR
However when i reduced loss figure to 1.95 Lakh to Counter Check , it showed Adjmnt of Loss 1.95 Lakh against Income under other heads income in same AY 19-20
Can Expert clarify Reason of above pl.
in itr - 2 , iI claimed in AY 19-20 INT Loss on loan from HP Rs 2.01 Lakh & the whole amount of 2.01 lakhs Auto shifted in ITR Automatically to Set off Loss to Next year in Cyla Bala etc. & Other Colmns w/out adjustment of 2 Lakh from _other Head Income in Same Year whereas only Amount of Rs 1000- in Excess of 2 Lakh should have been tfd to Col Set off to next AY. in Auto Calculation in ITR
However when i reduced loss figure to 1.95 Lakh to Counter Check , it showed Adjmnt of Loss 1.95 Lakh against Income under other heads income in same AY 19-20
Can Expert clarify Reason of above pl.
Om Goyal
(445 Points)
Replied 01 July 2019
can any expert clarify as to why Rs 2,01,000- was shown as C/FD to Next AY 20-21
& After ADJUSTING Rs 2,00,000 Loss Against Other Heads of Income in AY 19-20 , Rs 1000- was Reqd to be C/FD to next AY 20-21.
please clarify whether i made mistake some where. Any experience for above to find solution pl
& After ADJUSTING Rs 2,00,000 Loss Against Other Heads of Income in AY 19-20 , Rs 1000- was Reqd to be C/FD to next AY 20-21.
please clarify whether i made mistake some where. Any experience for above to find solution pl
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