Case Study: Mr. Rathod reduces tax liability by set-off of house property loss with TaxBuddy

Mr. Rathod saves ₹2,00,000 on tax with TaxBuddy

Mr. Rathod, a small business owner, was uncertain how to utilize the annual losses from his rented residential property, known as House Property (HP) losses, for tax savings against his business income. He approached TaxBuddy for guidance on the rules for setting off and carrying forward these losses.

TaxBuddy advised Mr. Rathod to set off his HP loss of ₹2,00,000 against his business income, which immediately lowered his taxable income and reduced his overall tax liability. For the remaining unabsorbed loss, TaxBuddy provided the strategic solution to carry it forward for up to eight years, offering potential future tax savings.

Mr. Rathod (small Business Owner)