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House property

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 November 2016 Dear Sir,
I want to know whether the house property used in the business and profession whose income is not chargeable to tax is exempt from tax or taxed under house property.
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Unnikrishnan B

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Unnikrishnan B (Expert)
21 November 2016 If the property is used for business or profession it cannot be taxed under house property even if the business income has given some exemptions
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 November 2016 Respected sir, but section 22 states that property other than the house property used in business and profession and chargeable to income tax. If possible please guide me little more or provide reference to some explaination or rule given in law in this regards..it will be great help from your side. Thank you.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
04 November 2021 It is exempt form tax.
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