House Property Income
This query is : Resolved
25 November 2009
Good Morning Exeperts
Please Tell me Taxability of income recieved by individual in india from outside india property, Is any Deduction Is Available
Please Tell me Taxability of income recieved by individual in india from outside india property, Is any Deduction Is Available
25 November 2009
All Income received by resident is taxable in India.So, income from property outside india is taxable in India.
Income from House Property outside India is taxable as House Property Income in India.All deductions under section 24 are available.Further Municipal taxes levied by Foreign authority are also eligible for deduction.
Income from House Property outside India is taxable as House Property Income in India.All deductions under section 24 are available.Further Municipal taxes levied by Foreign authority are also eligible for deduction.
25 November 2009
agree
25 November 2009
In case of a person resident in India, income from property situated outside India is taxable whether such income is brought into India or not.
Citation :- Arunachalam Chettiar Vs. CIT (1945) 13 ITR 183 (Mad).
Citation :- Arunachalam Chettiar Vs. CIT (1945) 13 ITR 183 (Mad).
25 November 2009
In continuation of the above,taxes levied by local authority of a foreign country on the property situated abroad are deductible in deciding the ALV of the property.
Citation:-CIT Vs. Venugopala Reddiar (1965) 58 ITR 439(Mad).
Citation:-CIT Vs. Venugopala Reddiar (1965) 58 ITR 439(Mad).
02 December 2009
Agree with B.Chackrapani Warrier.......
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- CREDIT NOTES WITHOUT GST
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
