Question

If an assessee incurs any loss under the head "Income from House Property" and such loss is not fully adjusted under other heads of income in the same assessment year, then the balance loss shall be allowed to be carried forward and set off against "Income from House Property" in subsequent years subject to a limit of:

• A. 2 assessment years
• B. 4 assessment years
• C. 6 assessment years
• D. 8 assessment years

Hint:

Logic Tip: House property loss can be carried forward for 8 years and adjusted only against house property income.

Answer 1

The Correct Option is D

Step 1:
Loss from house property can be adjusted against other heads subject to prescribed limits.

Step 2:
If loss remains unadjusted, it can be carried forward to future years.

Step 3:
As per Income Tax provisions, such loss can be carried forward for: \[ 8 \text{ assessment years} \]

Step 4:
Therefore, the correct answer is: \[ \boxed{\text{(4) 8 assessment years}} \]