When owner occupies house for own business????

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2013 If income has to be taxed under the head house property then one of the conditions is that the owner should not occupy the residential house property for carrying on his own business and profession,right? (I am not too sure about that)

so if he does use the residential house property to carry on his own business and profession,what happens to the income then??

And can anyone please guide me on how to study income tax. I have done 3 heads(house prop,sal,cap gain) but i still am not sure about how to approach the total income questions with so many points. how can i approach those questions?

Do we get extra marks for quoting the sections? and
Do we lose marks for not quoting the sections?

CA IPCC student.
Please help.

Rupesh Jain

Rupesh Jain (Expert)
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31 July 2013 if assesse doing business in his property then he not calim any rent of property in which he Is doing business.

only house tax, and repair exp. can claim in his income tax return.
w/o section not loose you marks
but when you quoting may increase your marks for reply

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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31 July 2013 As regards the first part is concerned if the business is carried on in the proprietorship then the rent cannot be claimed but if the business is carried in the partnership or company then rent can be claimed and the expert has given the details of other expenses which can also be claimed.

As regards the second part is concerned there will be no difference if you quote the section or not but if you quote wrong section then there will be either no marks or deduction in marks. It is also not important is to quot e the case laws. but what you have to give is that you reply the requirement of question to the point and what the section actually mean the case law's gist in your own language.

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