FAQs on Income from house property

Chapters / List

1. Is rental income from sub-letting chargeable to tax under the head “Income from house property”?

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2. Whether rental income could be charged to tax in the hands of a person who is not a registered owner of the property?

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3. Under which head is the rental income from a shop charged to tax?

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4. What is the tax treatment of composite rent when the composite rent pertains to letting of building along with other assets?

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5. What is the tax treatment of composite rent when the composite rent pertains to letting out of building along with charges for provision of services?

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6. How to compute income from a property which is let out throughout the year?

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7. How to compute gross annual value of a property which is let-out throughout the year?

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8. How to compute reasonable expected rent while computing gross annual value of a property which is let-out throughout the year.?

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9. How to compute actual rent while computing gross annual value of a property which is let-out throughout the year?

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10. How to compute gross annual value of a property which is let-out throughout the year?

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11. How to compute the gross annual value in the case of a property which is vacant for some time during the year?

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12. While computing income chargeable to tax under the head “Income from house property” in the case of a let-out property, what are the expenses to be deducted from gross annual value?

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13. Can interest paid on loans taken from friends and relatives be claimed as deduction while calculating house property income?

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14. While computing income chargeable to tax under the head “Income from house property” in the case of a let-out property, how much interest on housing loan can be claimed as deduction?

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15. What is pre-construction period?

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16. My spouse and I jointly own a house in which both of us have invested equally out of independent sources. Can the rental income received be split up between us and taxed in the individual hands?

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17. What is self-occupied property?

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18. How to compute income from self occupied property?

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19. Can a property not used for residence by the taxpayer be treated as self occupied property?

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20. What income is charged to tax under the head “Income from house property”?

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21. What will be the tax implications if a person occupies more than one property for his residence? Can he treat all the properties as self occupied (SOP) and claim gross annual value (GAV) as Nil?

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22. I own two houses. One is a farmhouse that I visit on weekends and the other is in the city that I use on weekdays. Is it correct to treat both these residences as self occupied?

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23. I own three houses which are occupied by me and my family. Is there any tax implication for financial Year 2021-22?

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24. In case of a self-occupied property, how much of interest on housing loan can be claimed as deduction?

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25. How to compute income from a property which is self-occupied for part of the year and let out for part of the year?

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26. How to compute income from a property, when part of the property is self-occupied and part is let-out?

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27. What is the tax of treatment of unrealised rent which is subsequently realised?

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28. I have 5 separate let out properties. Should I calculate the house property income separately for each individual property or by clubbing all the rental receipts in one calculation?

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29. What is the tax treatment of arrears of rent?

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