{"act":{"id":"finance-act-1992","short_title":"The Finance Act, 1992","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1992-1993.","act_number":"18","act_year":1992,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":109,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1992/"},"unit":"section","section":{"number":"38","heading":"Insertion of new section 71A","text":"Insertion of new section 71A. 38. After section 71 of the Income-tax Act, the following section shall be inserted, with effect from the 1st day of April, 1993, namely:— '71A. Carryforward of losses under the head \"Income from house property\".—Where in respect of any assessment year, the net result of the computation under the head \"Income from house property\" is a loss, the loss in so far as it relates to interest on borrowed capital referred to in clause (vi) of sub-section (1) of section 24 shall be carried forward by the assessee to the following assessment year or years and set off against the income under that head.'. [Finance Act, 1992] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p>Insertion of new section 71A.</p><p><b>38.</b> After section 71 of the Income-tax Act, the following section shall be inserted, with effect from the 1st day of April, 1993, namely:—</p><p>'71A. <i>Carryforward of losses under the head \"Income from house property\".</i>—Where in respect of any assessment year, the net result of the computation under the head \"Income from house property\" is a loss, the loss in so far as it relates to interest on borrowed capital referred to in clause (<i>vi</i>) of sub-section (<i>1</i>) of section 24 shall be carried forward by the assessee to the following assessment year or years and set off against the income under that head.'.</p><p>[Finance Act, 1992]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":118,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1992/section/38/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}