Taxation of income from deemed let out property
This query is : Resolved
12 February 2014
can anyone tell me legislative intention behind charging of tax on income from deemed let out property
12 February 2014
There is a chance of claiming Loss in Self occupied properties... and hence the legislators... did not want assesses to claim huge loss in their various SOP properties.. and hence only one property considered as SOP others.... as deemed to be let out property...so that more loss cannot be claimed.... this is my view....
12 February 2014
Legislative intention is to curb the tax evasion. A person can easily escape from the tax net if the provisions of deemed let out property are not there in the statute. A let out property can be said as used for personal purpose.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
Trending Online Classes
CAclubindia
