# The Finance Act, 1992, Section 38: Insertion of new section 71A

- Act: The Finance Act, 1992 (Act 18 of 1992)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1992/section/38/

## 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.

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