Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2018 Year 2018 This

Income from house property - unsold inventory of built- up ...


Income from Unsold Residential Inventory Taxable as Notional Annual Letting Value per Section 23(1)(a) of Income Tax Act.

January 17, 2018

Case Laws     Income Tax     HC

Income from house property - unsold inventory of built- up residential houses/flats - the properties held as stock in trade will be taxable under the notional annual letting value method prescribed u/s 23(1)(a) - HC

View Source

 


 

You may also like:

  1. The ITAT held that the AO committed an error prejudicial to the Revenue's interest by failing to tax the notional annual letting value of the assessee company's unsold...

  2. Income from house property - Deemed let out value of the closing stock - the unsold flats which are stock in trade when they were sold they are assessable under the head...

  3. Deemed rental income - the unsold flats which are stock in trade when they were sold they are assessable under the head ‘income from business’ when they are sold and...

  4. 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...

  5. Assessment of rental income - ‘Income from House Property’ OR ‘Income from Business’ - notional annual letting value on unsold shops held as stock in trade by the...

  6. Income from house property - annual letting value of unsold flats - Estimating rental income by the AO for these three flats as income from house property was not...

  7. While calculating annual value of the let out property, maintenance charges paid to the society by the assessee is admissible deduction from the annual let out value u/s 23(1)(b)

  8. Scope of income from house property u/s 23(1)(a) - The notional interest on security deposits cannot be taken into consideration for determining and computing the...

  9. Income From House Property - enhancement of annual let out value - notional interest on deposits - municipal valuation is less than the actual rent received - No addition - AT

  10. 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...

  11. Income from house property - notional rental income - no efforts were made by the Assessing Officer to determine the monthly rental/rate at which the Leased Property...

  12. 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...

  13. Annual Letting Value (ALV) - rented property - no addition to the ALV can be made on account of notional interest on interest free deposit with the landlord u/s.23(1)(a) - AT

  14. Addition on account of house rent - Income from house property - The AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1...

  15. Income from house property - deemed rental income - notional annual value (NAV) u/s 23(1)(a) - without allowing a reasonable period or time gap from the completion of...

 

Quick Updates:Latest Updates