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 July 2020 Year 2020 This

Notional rental income on commercial property u/s 23(1)(a) - ...

July 21, 2020

Case Laws     Income Tax     AT

Notional rental income on commercial property u/s 23(1)(a) - notional rental income on unsold stock u/s 23(1)(a) - There being impossibility of renting out the property, the AO is not justified to charge notional rent from this property and assess the same as income from house property as deemed income.

View Source

 


 

You may also like:

  1. 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...

  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. 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...

  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. Addition on account of notional rent in respect of vacant property of the assessee - the property was available for rent but was lying vacant for the entire year - after...

  6. Valuation of Rental Income - GST - Deduction of property taxes and other statutory levies - treatment of notional interest on the security deposit - All taxes levied...

  7. Income from house property - estimating rental income from the unsold shops - the unsold fifty five shops should be treated as ‘stock in trade. As assessee`s case under...

  8. 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...

  9. 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...

  10. 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...

  11. Chargeability of notional interest on deposits under Income from House Property - ALV determination - CIT(A) has rightly concluded that estimation of ALV on the basis of...

  12. 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...

  13. Addition towards the ‘Annual Lettable Value‘(“ALV”) of a property owned - property jointly owned by the assessee - as the rent of ₹ 60,000/- ( ½ share) received by...

  14. Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

  15. Rental income of letting out property simplicitor was chargeable to tax under the head income from house property and not as business income irrespective of the fact...

 

Quick Updates:Latest Updates