Whether income derived from house property can be taxable only in the hands of the legal owner of the property?
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Income from house property?
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Yes, income from house property is taxed in the hand of owner of property I.e. legal owner of property.
However in case where there is clubbing provisions attracted, then you will have to check on whose hand income shall be taxable
However in case where there is clubbing provisions attracted, then you will have to check on whose hand income shall be taxable
Yes... The Income Taxable in the hands of the Owner of the Property.
The Supreme Court opined in case of CIT vs Podar Cement Ltd that the income would be chargeable to tax in the hands of the person who received or was entitled to receive income from the house property in his or her own right, and not on behalf of the owner.
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