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Section31
The Finance Act, 2017

Amendment of section 71

In force As on 10 Oct 2026

Ministry Finance Enacted 17 Apr 2017 Cited by 4 provisions

Section 31 of the Finance Act, 2017 deals with amendment of section 71. Amendment of section 71. 31. In section 71 of the Income-tax Act, after sub-section (3), the following sub-section shall be inserted with effect from the 1st day of April, 2018, namely:— '(3A) Notwithstanding anything contained in sub-section (1) or sub-section (2), where in respect of any assessmen The Act was enacted on 17 Apr 2017.

Amendment of section 71.

31. In section 71 of the Income-tax Act, after sub-section (3), the following sub-section shall be inserted with effect from the 1st day of April, 2018, namely:—

'(3A) Notwithstanding anything contained in sub-section (1) or sub-section (2), where in respect of any assessment year, the net result of the computation under the head "Income from house property" is a loss and the assessee has income assessable under any other head of income, the assessee shall not be entitled to set off such loss, to the extent the amount of the loss exceeds two lakh rupees, against income under the other head.'.

Section 31, The Finance Act, 2017.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 71 Amendment of section 204
  2. Income-tax Act s. 71 Set off of loss from one head against income from another

Referred to by 4

  1. s. 135 Amendment of section 31 of Act 2 of 1934
  2. s. 165 Amendment of Act 42 of 1999
  3. s. 171 Amendment of Act 12 of 2003
  4. s. First Schedule Income-tax

Questions about Section 31

What does Section 31 of the Finance Act deal with?

Section 31 of the Finance Act is headed "Amendment of section 71". Amendment of section 71. 31. In section 71 of the Income-tax Act, after sub-section (3), the following sub-section shall be inserted with effect from the 1st day of April, 2018, namely:— '(3A) Notwithstanding anything contained in sub-section (1) or sub-section (2), where in respect of any assessmen

How do I find court cases under Section 31 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2017 31, section 31 Finance Act 2017, section 31 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 31 of the Finance Act, and has it changed?

Its own text turns on section 71 (Amendment of section 204), Income-tax Act 71 (Set off of loss from one head against income from another), so none of them can safely be read on its own. 4 other provisions in this corpus refer back to it.

When was Section 31 of the Finance Act enacted?

Section 31 of the Finance Act, cited as Finance Act 2017 31, was enacted on 17 Apr 2017. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.