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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
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
