In respect of loss from house property, which of the following statements are correct?
A. While computing income from any house property, the maximum interest deduction allowable under section 24 is ₹ 3 lakhs.
B. Loss from house property relating to a particular year can be set-off against income under any other head during that year only to the extent of Rs. 2 lakhs.
C. The loss in excess of Rs. 2 lakh, which is not set-off during the year, cannot be carried forward for setoff.
D. None of the above
Answer:B
In respect of loss from house property, which of the following statements are correct?
A. While computing income from any house property, the maximum interest deduction allowable under section 24 is ₹ 3 lakhs. B. Loss from house property relating to a particular year can be set-off against income under any other head during that year only to the extent of Rs. 2 lakhs. C. The loss in excess of Rs. 2 lakh, which is not set-off during the year, cannot be carried forward for setoff. D. None of the above