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 February 2018 Year 2018 This

Deemed rental income - the unsold flats which are stock in trade ...

February 28, 2018

Case Laws     Income Tax     AT

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 therefore the AO is not correct in bringing to tax notional annual letting value in respect of those unsold flats under the head ‘income from house property’. - AT

View Source

 


 

You may also like:

  1. 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...

  2. 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...

  3. Rental income from unsold flats shown as stock-in-trade in the books - “ should not be assessed under the head “income from business” but under the head “income from...

  4. Estimation of income from the unsold vacant units as income on notional basis - The flats not sold was its stock-in-trade and income arising on its sale is liable to be...

  5. Income from House Property - Addition of deemed ALV of vacant flats which are lying in the stock in trade of the assessee’s books of account - even in the case of unsold...

  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. Income from house property - Determining the ALV of flats disclosed in the stock in trade as per the Accounting standards and policies being fallowed consistently by the...

  8. 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...

  9. Rental income derived from unsold flats which are shown as stock-in-trade in the books of the assessee would be assessed under the head “Income From House Property” and...

  10. Nature of income - Assessing u/s 22 of the Act the ALV of the flats/shops held by it as stock-in-trade of its business as that of a developer under the head “House...

  11. Addition made on account of deemed rent - unsold units (Flats) in the hands of builder at the year end - property is used as stock-in-trade - the deemed rent concept...

  12. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

  13. Computation of annual value - The three flats which could not be sold at the end of the year was shown as stock-in-trade. Estimating rental income by the AO for these...

  14. Revision u/s 263 - Correct head of income - rental income from letting out of the shop - The assessee was not finding the buyer to sell the property which were kept as...

  15. Deemed rent u/s. 23(4) - Deemed rental income on unsold flats - In the present case that there is no dispute that the profits of the business of construction by the...

 

Quick Updates:Latest Updates