Computation of Income from House property - the property was ...

Income Tax

January 1, 2013

Computation of Income from House property - the property was let, but was vacant during the year, due to which vacancy, the actual rent received or receivable by the assessee in respect of such property was nil. Nil rent, then, it cannot be gainsaid, is evidently less than the sum for which the property might reasonably be expected to let from year to year. On this score itself, the grievance of the department loses whatever force it could have had, if any. - AT

View Source

← Previous Next →

Computation of Income from House property - the property was ...

Income Tax

January 1, 2013

You may also like:

Income from house property - deduction (Vacancy allowance) - Notably the words used in section 23(1)(c) of the Act are “the property is let and was vacant during the...

Income from House property - Vacancy can only follow a state of actual letting, envisaged u/ss. 23(1)(b)/(c). Reduction due to vacancy u/s. 23(1)(c) would accordingly...

House property income - Vacancy allowance - property is let under clause (c) of section 23(1) does not mean that the property should have been actually let in the...

Addition on account of house rent - Income from house property - The AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1...

Income from house property - deemed rental income of the property, which remained vacant during the year - assessee as confronted that house was very old and partly...

Income from house property - one is self occupied property and second is vacant property - AO has applied ALV at 7% of book value of the property and computed deemed...

Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

Depreciation on let out properties u/s 32 - use of properties for the purposes of business of the assessee. - no deprecation u/s 32 can be allowed on these two...

Income from the house property shown by the assessee on letting out the property on rent to her husband - the assessee’s income from letting out the property is to be...

Income from house property - annual letting value of unsold flats - Estimating rental income by the AO for these three flats as income from house property was not...

Income from house property - deemed rental income - notional annual value (NAV) u/s 23(1)(a) - without allowing a reasonable period or time gap from the completion of...

Correct head of income - taxability of rental income - the assessee is owner and thereby receives any income from house property, it should be taxed under the head...

Estimation of income from house property - AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1)(a) was called for only in...

Letting out of the terrace erection of antenna and income derived from letting out has to be taxed as “income from house property” and not as “income from other sources’ - AT

Computation of annual value of the property let out to the assessee’s sister concern - otional interest on security deposit is to be treated as income from house property - AT

Quick Updates: