Home Highlights November 2017 Year 2017 This

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1. While computing annual value of property which has been let out - disallowance made on account of brokerage charges, legal expenses, maintenance charges and insurance...

2. Income from house property - Deduction u/s 23(1) - Annual mixed use charges paid by the assessee to Municipal Corporation - The said charges is in the nature of...

3. Levy of GST - maintenance charges collected by Emerald Court Co-op Housing Society Ltd (CHS) from members of its society - In view of the amended Section 7 of the CGST...

4. Annual Letting Value of the selfoccupied property at Ahmedabad - If the fair rent is less than the standard rent, then, it is the fair rent which shall be taken as...

5. Income from house property - ALV determination - AO has though adopted the rate of rent as it was agreed upon between the parties in respect of property in the vicinity...

6. Annual value determination - Estimating the value of the house property - assessee should be granted vacancy allowance.

7. Annual letting value - Property deemed to be let out - provisions cannot be applied when there is a time lag between the acquisition of the property and letting out of...

8. Income from house property - ALV of property - amounts received under the maintenance agreement - There are certain services provided by the assessee which are common...

9. Annual letting value of the property by taking into consideration the notional interest on interest free deposit - notional rent on the amount of security deposit...

10. Co-operative Housing Society declared income from maintenance charges under 'Income from other sources' with deficit of Rs. 13,86,671/-. Rental and interest income also...

11. Income from house property - deductions claimed u/s 24(a) - society charges - If, the amount paid to society charges includes municipal taxes levied by the local...

12. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

13. Income from house property - Estimation of annual value @8.5% appears to be without any basis since the annual value has to be determined as the value for the property...

14. Computing the Annual Letting Value - income from house property - Property remained vacant - Assessee in the present case had rightly determined the ‘annual value’ of...

15. Determination of Annual Letting value (ALV) of property vacant during the year – Section 23(1)(c) – rent received or receivable from the property in question during the...