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Feb 21, 2025
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Income Tax Bill 2025: New Bill clarifies carry forward of house property losses
The New Income Tax Bill 2025, which aims to replace the Income Tax Act 1961, seeks to simplify and simplify tax rules.
We take a look at some tax aspects regarding the sale of property
Carry Forward Of Losses From House Property
If you have a loss from one house property, you can adjust it against income from another house property. If there’s still a loss after this, you can set it off against income from other sources, but only up to Rs 2 lakh a year. Any loss beyond Rs 2 lakh cannot be adjusted against other income in the same year.
“The remaining loss (unabsorbed loss) can be carried forward for the next eight years, but it can only be adjusted against income from the house property in those years.
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