House Property - u/s 27.

DEAR,

   (1)    The deemed owner also included in compution of income from house property u/s 22 to 26

so as per sec 27(iiib) if a person aquire property more than 12 years then he will deemed to be deemed owner of  leased property 

 so your income of 13th year sub letting will be deemed to be income of  house property

 yes, the original owner can forfitted the agreement because the deemed limit is in only the IT ACT  of 12 year not in ICA-1872  

(2) Yes, if the leased property is sub let  after 8 year, The income of it will be charged in other Income and the expenses only related to sub let is allowed 

In my opinion the concept for "deemed owner" applies from the day one on which lease agreement of 12 years or more is entered into.

The act does not tell about any contingency  or escalation clauses. Since Section 27 is a deeming section, and it requires the lease period to be  of 12 or more years ,( even 6years+ renewal right for further 6years or more.) then it is sufficient for the "deemed owner"  to show his income under the head IFHP.  As such till the agreement remained in force Income from the Lease Property has to be taken under IFHP.

Originally posted by : Paras Bafna
	In my opinion the concept for "deemed owner" applies from the day one on which lease agreement of 12 years or more is entered into. The act does not tell about any contingency  or escalation clauses. Since Section 27 is a deeming section, and it requires the lease period to be  of 12 or more years ,( even 6years+ renewal right for further 6years or more.) then it is sufficient for the "deemed owner"  to show his income under the head IFHP.  As such till the agreement remained in force Income from the Lease Property has to be taken under IFHP.

agree with you sir!

Originally posted by : Paras Bafna
	In my opinion the concept for "deemed owner" applies from the day one on which lease agreement of 12 years or more is entered into. The act does not tell about any contingency  or escalation clauses. Since Section 27 is a deeming section, and it requires the lease period to be  of 12 or more years ,( even 6years+ renewal right for further 6years or more.) then it is sufficient for the "deemed owner"  to show his income under the head IFHP.  As such till the agreement remained in force Income from the Lease Property has to be taken under IFHP.

 agree!!!!!!!

Originally posted by : Paras Bafna
	In my opinion the concept for "deemed owner" applies from the day one on which lease agreement of 12 years or more is entered into. The act does not tell about any contingency  or escalation clauses. Since Section 27 is a deeming section, and it requires the lease period to be  of 12 or more years ,( even 6years+ renewal right for further 6years or more.) then it is sufficient for the "deemed owner"  to show his income under the head IFHP.  As such till the agreement remained in force Income from the Lease Property has to be taken under IFHP.

Agreed Sir.....