Income Tax : The framework clarifies that only owners or deemed owners are liable to tax under this head. Computation depends on annual value a...
Income Tax : The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value,...
Income Tax : A simple guide to the five heads of income under the Income Tax Act, 1961, explaining salary, house property, business income, cap...
Income Tax : This article explains how annual value is calculated under Section 23 and why it forms the foundation of taxable income from house...
Income Tax : This guide explains how Section 22 taxes house property based on annual value rather than actual rent. It covers computation steps...
Income Tax : From April 1, 2025, rental income from house properties must be reported under "Income from House Property," not as business incom...
Income Tax : While presenting interim Budget 2019-20 FM proposed to exempt the levy of income tax on notional rent on a second self-occupied ho...
Income Tax : Tax on rental income - The rental income is added to the taxable income and tax liability is based on the tax slabs. Up to 30 perc...
Income Tax : The ITAT Mumbai ruled that an AO cannot reclassify rental income as business income if it was consistently assessed as income from...
Income Tax : ITAT Delhi rules rental income from leased property is taxable as 'House Property' for IHDP Globals, upholding consistency rule in...
Income Tax : Gujarat HC ruled that rental income from a property held as stock-in-trade by a construction business is business income, not inco...
Income Tax : ITAT Mumbai clarifies tax on builders' unsold inventory, stating no deemed rental income on stock-in-trade. Also addresses 80G ded...
Income Tax : Income Tax Appellate Tribunal (ITAT) Pune recently ruled that notional rent on unsold flats held as stock-in-trade by a builder ca...
The framework clarifies that only owners or deemed owners are liable to tax under this head. Computation depends on annual value and specified deductions.*
The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value, deductions, and exemptions.
A simple guide to the five heads of income under the Income Tax Act, 1961, explaining salary, house property, business income, capital gains and other sources.
This article explains how annual value is calculated under Section 23 and why it forms the foundation of taxable income from house property. It highlights judicial principles governing fair rent, vacancy, and municipal tax deductions.
This guide explains how Section 22 taxes house property based on annual value rather than actual rent. It covers computation steps, deductions under Section 24, and treatment of self-occupied and let-out properties.
The law taxes the annual value of property based on ownership, not just actual rent received. Even vacant or self-occupied properties can attract tax under Section 22, reflecting their earning potential.
The Income Tax Act treats salary and house property income under distinct principles of employment and ownership. The key takeaway is that taxability depends on the source and statutory classification of income.
The amendment clarifies the two-year nil annual value period for unsold stock-in-trade property. It also confirms that prior-period interest is included within the ₹2 lakh deduction limit.
Understand Section 54 relief for long-term capital gains on sale of a residential house, conditions for reinvestment, timelines, CGAS rules, limits on exemption, and the impact of selling the new property within three years.
Summary of key tax rules for rental and house property income under the Income Tax Act, including sub-letting, deemed ownership, composite rent, computation of annual value, and treatment of self-occupied properties.
