What are the provisions framed under the Income-tax Act in relation to carry forward and set off of house property loss? If loss under the head “Income from house property” cannot be fully adjusted in the year in which such loss is incurred. then unadjusted loss can be carried forward to next year. The set-off […]
Compute Income from house property Income chargeable to tax under the head “Income from house property” in the case of a let-out property is computed in the following manner: Particulars Amount Gross annual value XXX Less:- Municipal taxes paid during the year XXX Net Annual Value (NAV) XXX Less:- Deduction under section 24 -Deduction under section 24(a)) […]
