Income Tax : Learn how rental income is taxed, who is treated as the owner, and how deductions under Section 24 are computed. The guidance also...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : A comprehensive guide explaining taxation of house property income, annual value computation, deemed ownership, and deductions und...
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 : 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...
Explore how rental income is taxed under Income from House Property. Learn about deductions, NAV calculation, and rules for pre- and post-construction interest.
Explore HRA exemptions and home loan deductions under old tax regime to minimize tax liability effectively. Learn to claim both benefits wisely.
From April 1, 2025, rental income from house properties must be reported under “Income from House Property,” not as business income.
Understand deemed ownership under Section 27 of the Income Tax Act, 1961. Learn about conditions where non-legal owners are treated as property owners.
Delhi High Court upholds constitutional validity of Sec. 71(3A) of Income Tax Act, limiting set-off amount but not eliminating deduction benefits entirely. Detailed analysis of Sanjeev Goyal Vs Union of India case.
Learn about income from house property, including self-occupied, let-out, and inherited properties. Explore tax implications, deductions, and key sections of the Income Tax Act.
Explore the intricate details of different heads of income, including salaries, and their tax implications. Gain insights into tax treatment, exemptions, and key considerations for various forms of salary income.
Discover differences between Self-Occupied Property (SOP), Deemed Let out Property (DLOP), and Let out Property (LOP) in house ownership. Navigate tax implications, rental incomes, and deductions for informed real estate decisions.
Analysis of ITAT Ahmedabad’s decision in Mansha Textiles vs ITO case. ITAT allows interest deduction u/s 24(b) when income is receivable and approved.
ITAT Mumbai’s decision in Shyamnarayan Trades Pvt Ltd vs ITO clarifies deductibility of interest on property loans, addressing loan repayment and share purchase.
