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Income Tax - Highlights / Catch Notes

Home Highlights September 2020 Year 2020 This

Provision in the Act for BRINGING to tax the notional rent on ...


Notional Rent Tax on Unsold Property Not Applicable for Assessment Year 2014-15; Effective from 2018-19.

September 5, 2020

Case Laws     Income Tax     AT

Provision in the Act for BRINGING to tax the notional rent on unsold stock of house property was brought into effect from assessment year 2018-19. In the present case, the assessment year is 2014-15 and hence the said provision is not at all applicable for the current assessment year. - AT

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