CHARGEABILITY [SECTION 22]
(1) The process of computation of income under the head “Income from house property” starts
with the determination of annual value of the property. The concept of annual value and the
method of determination is laid down in section 23.
(2) The annual value of any property comprising of building or land appurtenant thereto, of which the
assessee is the owner, is chargeable to tax under the head “Income from house property”.
However, where the property is occupied for the purpose of any business or profession carried
on by him, the profit of which is chargeable to tax as profits or gains from business or
profession, the annual value of such property would not be chargeable to tax under the head
“Income from house property”.
(1) The process of computation of income under the head “Income from house property” starts
with the determination of annual value of the property. The concept of annual value and the
method of determination is laid down in section 23.
(2) The annual value of any property comprising of building or land appurtenant thereto, of which the
assessee is the owner, is chargeable to tax under the head “Income from house property”.
However, where the property is occupied for the purpose of any business or profession carried
on by him, the profit of which is chargeable to tax as profits or gains from business or
profession, the annual value of such property would not be chargeable to tax under the head
“Income from house property”.
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