Loss From House Property

As per Section 71 of IT Act, 1961 a loss from house property can be set off against your other income generated during the financial year. If the net result of your income under the head house property is a loss then such loss can be set off against your other income of the same financial year in which you have generated such loss. If such loss is not completely set off then … [Read more...] about Loss from House Property Reduces your Taxable Income