It is not mandatory for an assessee to file a return of loss, if it pertains to —

CS Executive · Tax Laws and Practice · PYQS · December 2014
It is not mandatory for an assessee to file a return of loss, if it pertains to —
(A) Loss under the head 'profits and gains from business or profession'
(B) Loss from maintenance of race horses
(C) Loss under the head 'capital gains'
(D) Loss under the head 'income from house property'.

Answer & Explanation:

Correct Answer: Option (D)

Correct answer: (D) Loss under the head 'income from house property'.. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.

Topics: Income Tax Act, 1961

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