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Income Tax - Highlights / Catch Notes

Home Highlights December 2020 Year 2020 This

Addition on account of notional house property income - Rental ...

Income Tax

December 23, 2020

Addition on account of notional house property income - Rental value had been consistently showing a declining trend in respect of subject mentioned property at Palm Signature Villa, Dubai. Hence, we hold that there is absolutely no justification for the ld. AO to adopt an adhoc increase on 10% over and above the value assessed in the previous year. - AT

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  4. Computation of income - Income from house property - notional interest not to be included in the municipal ratable value - AT

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  6. Valuation of Rental Income - GST - Deduction of property taxes and other statutory levies - treatment of notional interest on the security deposit - All taxes levied...

  7. Notional rental income vacant/leased properties - in case of the assessee where the property remained vacant then the ALV of such property will be Nil- AT

  8. Income from house property - notional rental income - no efforts were made by the Assessing Officer to determine the monthly rental/rate at which the Leased Property...

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