G.K.'s way to Learn - Income from House Property

IPCC 1355 views 6 replies

 

Referring to MY POST, I am hereby starting this thread for PCC/IPCC – Taxation –  House Property

So friends, Lets Start……

Replies (6)

Summary Notes on HP..........See attachment

See amendments for May, 2011 

 

Discussions at LEARN ALONG WITH FUN

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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