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Income of house Property

P-A-W-A-N (TAX - MANAGER AT GURGAON) (541 Points)

09 December 2009

Can any one tell, income from roof which used for setlite tower is taxable in house property or not

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11 Replies

Dinesh N (Article) (156 Points)
Replied 09 December 2009

Dear friends,

Section 22 states any income to be taxable under house property should satisfy the following three condition

1. The property should consits of any buildings or lands appurtenant thereto

2. The assessee should be owner of the property

3. The property should not be used by the owner for the purpose of any business or profession carried on by him, the profits of which are chargeable to income tax.

In your case non of the conditions are satisfied so the income will not be taxable under section 22

Ansari (ca final) (444 Points)
Replied 09 December 2009

Originally posted by :Dinesh N
"	Dear friends, Section 22 states any income to be taxable under house property should satisfy the following three condition 1. The property should consits of any buildings or lands appurtenant thereto 2. The assessee should be owner of the property 3. The property should not be used by the owner for the purpose of any business or profession carried on by him, the profits of which are chargeable to income tax. In your case non of the conditions are satisfied so the income will not be taxable under section 22	"

Agree

Hareesh H Sharma (Cleared IPCC..now article) (894 Points)
Replied 09 December 2009

Hey Pawan are u talking abt a case where the mobile satellite tower is situated over a persons house??

CA RADHIKA AGARWAL (CA) (300 Points)
Replied 09 December 2009

Originally posted by :Dinesh N
"	Dear friends, Section 22 states any income to be taxable under house property should satisfy the following three condition 1. The property should consits of any buildings or lands appurtenant thereto 2. The assessee should be owner of the property 3. The property should not be used by the owner for the purpose of any business or profession carried on by him, the profits of which are chargeable to income tax. In your case non of the conditions are satisfied so the income will not be taxable under section 22	"

Dinesh how can u say...all the 3 cnditions r not satisfied in dis case........

i think above 2 cnditns r satisfied bt d last one is not satisfied..

hence .,earng frm satellite towers is not taxable under income frm house prop

Hareesh H Sharma (Cleared IPCC..now article) (894 Points)
Replied 09 December 2009

Yup what Radhika said is right..I guess the ques is not fully clear for me..So can u please clarify as to my last post about the same topic..If that is the case will it be taxable as house property income