Income From House Property Youtube

Hence rental income received by a tenant from sub letting cannot be charged to tax under the head income from house property.

Income from house property youtube. Assuming actual interest paid during financial year is rs 3 00 000. The income arising out of a house property either in the form of a rental income or on its transfer is referred to as income from house property. If house property is owned by co owners and their share in house property is definite and ascertainable than the income of such house property will be assessed in the hands of each co owner separately. The income tax law does not make any distinction between house properties situated in india or abroad for computing income from house property says suresh surana founder rsm astute consulting group.

Head income from house property. Therefore income from house property will be calculated as follows. The income tax department taxes this income under the head income from house property. An inherited property i e.

A as per provisions of section 25b arrears of rent will be charged to tax as income from house property in the previous year in which such rent is received after deducting a sum equal to 30 of such amount. Such income is taxable under the head income from other sources or profits and gains from business or profession as the case may be. This video covers the basic concepts of one of the five heads of income that is income from house property. In this article we would discuss at length what constitutes income from house property how it is calculated and the deductions you can claim on this income.

For the purpose of computing income from house property the annual value of the property will be taken in proportion to their share in the. Calculate income from house property in easy way. One bequeathed from parents grandparents etc again can either be a self occupied one or a let out one based on its usage as discussed. Let out house property.

Rental income from a shop rental. Income from house property net annual value 30 of net annual value actual interest paid on home loan. Income from house property 1 70 000 30 of 1 70 000 3 00 000 1 81 000. Income from house property in india.

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