House property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2016
Dear Sir,
I want to know whether the house property used in the business and profession whose income is not chargeable to tax is exempt from tax or taxed under house property.
I want to know whether the house property used in the business and profession whose income is not chargeable to tax is exempt from tax or taxed under house property.
21 November 2016
If the property is used for business or profession it cannot be taxed under house property even if the business income has given some exemptions
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Querist : Anonymous
Querist :
Anonymous
(Querist)
22 November 2016
Respected sir, but section 22 states that property other than the house property used in business and profession and chargeable to income tax. If possible please guide me little more or provide reference to some explaination or rule given in law in this regards..it will be great help from your side. Thank you.
04 November 2021
It is exempt form tax.
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