Reporting of income from letting out of house property under ‘Income from House Property’ (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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..... ax under the head Profits and gains of business or profession . 2. It has been observed that some taxpayers are reporting their rental income generated by letting out of the house property, under the head Profits and gains of business or profession in place of the head Income from house property . Accordingly, they are reducing their tax liability substantially by showing house property income und .....

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