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Income Tax - Highlights / Catch Notes

Home Highlights July 2020 Year 2020 This

Notional rental income on commercial property u/s 23(1)(a) - ...

Income Tax

July 21, 2020

Notional rental income on commercial property u/s 23(1)(a) - notional rental income on unsold stock u/s 23(1)(a) - There being impossibility of renting out the property, the AO is not justified to charge notional rent from this property and assess the same as income from house property as deemed income.

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