Sponsored
    Follow Us:
Sponsored

Income from the following house properties are exempted from tax:

1. Any one palace or part thereof of an ex-ruler, provided the same is not let out [Sec. 10(19A)].

Tax-point: If the ex-ruler has a house property and the part of which is self-occupied and remaining let out then only the self occupied part of the house property shall be exempted.

2. House property of a local authority [Sec. 10(20)].

3. House property of an approved scientific research association [Sec. 10(21)].

4. House property of an educational institution [Sec. 10(23C)].

5. House property of a hospital [Sec. 10(23C)].

6. House property of a person being resident of Ladakh [Sec. 10(26A)]

7. House property of a political party [Sec. 13A]

8. House property of a trade union [Sec. 10(24)]

9. A farm house [Sec. 10(1)]

10. House property held for charitable purpose [Sec. 11]

11. House property used for own business or profession [Sec. 22].

If you have any doubt or concern you can write us on vivekmalhotra492@gmail.com or contact us at 9780754114

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

One Comment

  1. V N Sharma says:

    Nice to go through the information about property tax.
    I have a question:- If I have a house in which I am residing , should I pay property tax for that house used as residential accommodation for self?

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031