Referring to MY POST, I am hereby starting this thread for PCC/IPCC – Taxation – House Property
So friends, Lets Start……
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G.K.'s way to Learn - Income from House Property
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Summary Notes on HP..........See attachment
Very NIce Exercise Done by you my friend. It will be really helpful to all the students & especially to all those doing self studies. Keep It Up.
Annual value of house property consisting of building and land appurtenant thereto which the assessee is the owner shall be subject to Income Tax u/h House Property after claiming deduction u/s 24
Provided that
such house property or part thereof is not used by the assessee for the purpose of carrying on his business
Income from vacant land - not tax u/h House Property
why ? - cz there is no building
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