Income from house property

Essential conditions for taxing income under this head :-
 

The following three conditional must be satisfied before the income of the property can be taxed under the head "Income from House Property":

The property must consist of buildings and lands appurtenant thereto,

The assessee must be the owner of such house property,

The property may be used for any purpose, but it should not be used by the owner for the purpose of any business or profession

carried on him, the profit of which are chargeable to tax