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Section 22 - The annual value of property consisting of any buildings or lands appurtenant thereto of which the assessee is the owner, other than such portions of such property as he may occupy for the purposes of any business or profession carried on by him the profits of which are chargeable to income-tax, shall be chargeable to income-tax under the head ______
Section 22 - The annual value of property consisting of any buildings or lands appurtenant thereto of which the assessee is the owner, other than such portions of such property as he may occupy for the purposes of any business or profession carried on by him the profits of which are chargeable to income-tax, shall be chargeable to income-tax under the head ______
Income from house property
Annual value of a property is chargeable to tax under the head 'income from house property' if following conditions are satisfied – a) There must be a ______ property
Annual value of a property is chargeable to tax under the head 'income from house property' if following conditions are satisfied – a) There must be a ______ property
house
Assessee must be the owner of the ______ property
Assessee must be the owner of the ______ property
house
House property must not be occupied by assessee for the purpose of any business/profession carried on by him, profits of which are chargeable to ______
House property must not be occupied by assessee for the purpose of any business/profession carried on by him, profits of which are chargeable to ______
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'property' means building or land appurtenant (attached/ connected) to building; E.g. ______, garden
'property' means building or land appurtenant (attached/ connected) to building; E.g. ______, garden
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Match the following terms with their definitions:
Match the following terms with their definitions:
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Study Notes
Income from House Property
- Annual value of property consisting of buildings or lands attached to it is chargeable to income-tax under the head 'Income from House Property'.
Conditions for Taxation
- There must be a house property.
- The assessee must be the owner of the house property.
- The house property must not be occupied by the assessee for the purpose of any business or profession carried on by him, profits of which are chargeable to income-tax.
Definition of Property
- 'Property' refers to a building or land appurtenant (attached/connected) to the building.
- Examples of property include a house, garden, etc.
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Description
Test your knowledge of income from house property with this quiz covering the taxation of rental income under sections 22 to 27. Assess your understanding of annual property value and provisions related to property ownership and occupation for business purposes.
