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"Carry-Forward And Set-Off Of Loss Under The Head “Income From House Property”

Section 71B provides that where the net result of computation under the head “Income from house property” is a loss, then the said loss will be adjusted against income under other head in the same assessment year and the net balance loss remaining would be allowed to be carried forward and set off in the subsequent assessment years upto a maximum of 8 years against the income from house property.

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