Income from letting out residential house property by owner to ...

Residential house property letting income taxed under 'Income from house property', not 'Business income'. Section 28 amended for clarity from AY 2025-26.

Notes Bill

July 30, 2024

Income from letting out residential house property by owner to be taxed under head 'Income from house property', not 'Profits and gains of business or profession'. Amendment to section 28 of Income-tax Act to clarify this, effective from assessment year 2025-26.

View Source

← Previous Next →

Income from letting out residential house property by owner to ...

Residential house property letting income taxed under 'Income from house property', not 'Business income'. Section 28 amended for clarity from AY 2025-26.

Notes Bill

July 30, 2024

You may also like:

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...

Correct head of income - income from letting out of warehouses or property to lessees - in cases where the earning of the rental income is the exclusive or predominant...

Correct head of income - Income from leasing or letting out the properties in shopping-cum-entertainment Mall - “income from business” or “income from house property” -...

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...

Income from the house property shown by the assessee on letting out the property on rent to her husband - the assessee’s income from letting out the property is to be...

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...

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...

Revision u/s 263 by CIT - rental income which had been shown as “Income from Business & Profession” rather than showing the same as “Income from House Property” - once...

Nature of income - income from renting a properties in Mall - Income from house property or busniss income - the income from renting a properties in Mall to be taxed as...

Correct head of income - Characterization of income - rental income as 'business income' or 'income from house property' - there is no doubt that assessee has object of...

Income from leasing the hotel was income from business and not income from house property - AT

Revision u/s 263 - Classification of rental income - House property v/s business income - The Appellate Tribunal observed that the Assessee is primarily engaged in...

Correct head of income - taxability of rental income - the assessee is owner and thereby receives any income from house property, it should be taxed under the head...

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...

Letting out of the terrace erection of antenna and income derived from letting out has to be taxed as “income from house property” and not as “income from other sources’ - AT

Quick Updates: