# The Finance Act, 1994, Section 21: Amendment of section 71

- Act: The Finance Act, 1994 (Act 32 of 1994)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1994/section/21/

## Text

Amendment of section 71 21. In section 71 of the Income-tax Act, for sub-section (4), the following sub-section shall be substituted with effect from the 1st day of April, 1995, namely:— '(4) Where the net result of the computation under the head "Income from house property" is a loss, in respect of the assessment years commencing on the 1st day of April, 1995 and the 1st day of April, 1996, such loss shall be first set off under sub-sections (1) and (2) and thereafter the toss referred to in section 71A shall be set off in the relevant assessment year in accordance with the provisions of that section.'. [Finance Act, 1994] © Copyright. Taxmann Publications Pvt. Ltd.

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