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Income from house property
I am not getting the meaning of this statement thoroughly "the persons who owns the building need not also be the owner of the land upon which it stands "???
Replies (3)
Land is owned By Xyz . But building which is constructed on this land is owned by the person staying in it.
Simple examlp for this question is Flats......
If 4 families are staying in a singls flat, but The land is belonged to all those four families, not for a single family,
So the he be a owner of the flat, but he is not the owner of the land......
thats it......
it means they can individually let out their flat for periodic consideration .
i got it.
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