1Where in respect of the assessment year commencing on the 1st day of April, 1993 or the 1st day of April, 1994, the net result of the computation under the head "Income from house property" is a loss, such loss in so far as it relates to interest on borrowed capital referred to in clause (vi) of sub-section (1) of section 24 and to the extent it has not been set off shall be carried forward and set off in the assessment year commencing on the 1st day of April, 1995, and the balance, if any, in the assessment year commencing on the 1st day of April, 1996, against the income under any head.
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1. Subs. by s. 22, ibid., for section 71A (w.e.f. 1-4-1995).
Section 71 Set off of loss from one head against income from another
Section 71A Transitional provisions for set off of loss under the head Income from house property
Section 71B Carry forward and set off of loss from house property
Section 72 Carry forward and set off of business losses
Section 73 Losses in speculation business
Section 73A Carry forward and set off of losses by specified business