Rental income in the hands of owner is charged to tax under the head “Income from house property”. Rental income of a person other than the owner cannot be charged to tax under the head “Income from house property”. Hence, rental income received by a tenant from subletting cannot be charged to tax under the head “Income from house property”. Such income is taxable under the head “Income from other sources” or profits and gains from business or profession, as the case may be.
Articles in this section
- I have 5 separate let out properties. Should I calculate the house property income separately for each individual property or by clubbing all the rental receipts in one calculation?
- What is the tax of treatment of unrealised rent which is subsequently realised?
- How to compute income from a property, when part of the property is self-occupied and part is let-out?
- How to compute income from a property which is self-occupied for part of the year and let out for part of the year?
- In case of a self-occupied property, how much of interest on housing loan can be claimed as deduction?
- I own two houses both of which are occupied by me and my family. Is there any tax implication?
- I own two houses. One is a farmhouse that I visit on weekends and the other is in the city that I use on weekdays. Is it correct to treat both these residences as self occupied?
- What will be the tax implications if a person occupies more than one property for his residence? Can he treat all the properties as self occupied (SOP) and claim gross annual value (GAV) as Nil?
- What income is charged to tax under the head “Income from house property”?
- Can a property not used for residence by the taxpayer be treated as self occupied property?