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Income from house prop

Akarsh Goyal (Student-CA Final) (1357 Points)

27 July 2014  
Kya house prop ki income show krne ke liye ownership zaruri hai? aur agar annual rent 180000 hai toh tax nil bnega??

 4 Replies

Roshan A (Chartered Accountant) (458 Points)
Replied 27 July 2014

Yes ownership is necessary and Income Rs180000 from House Property is below the basic exemption limit and hence not taxable

NILA REJESH P (Chartered Accountant) (815 Points)
Replied 27 July 2014

Assessee should be legal owner of house property. Annual rent is below taxable income. So, not taxable.

Mihir (Wealth Manager) (5288 Points)
Replied 27 July 2014

Yes, ownership of property is must.

Hitesh Khanna (Accounting & Finance Taxation Company Law Audit )   (839 Points)
Replied 28 July 2014

I have a doubt that the ownership of the property is must to claim Income from House Property under the head House Property.

Income of Subletting is also Taxable under the head House Property.


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