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House Property Income

Changes in Taxation of Income from House Property

Direct tax code, in the recent time, has set out many provisions which would modify the provisions in respect to ‘income from house property’ which will ease the problem of determination of income from house property along with reducing any chances of litigation in such respect to nil. The new code for taxation has certain specific points of notice which includes that the house property shall be charged to its owner irrespective of whether the .....

Tax Provisions of Rent Arrears

In this article, we will discuss about the tax provisions of rent arrears received in current financial year of due from  previous years. The majority of the tax payers are confused how it is taxable, In which Asstt. year arrears of rent is taxable, is there any interest payable on income tax for default of assessed income. Let’s discuss some of the important points regarding taxability of arrears of rent received. The provisions of rent .....

Tax Implications on Second House Property

People constantly snub the tax involvement points before buying any second house property. I write this article for those people who are recently planning to buy the second house. I am sure this article will help you to understand the tax implication of house property income of the second house or more house/flats. One house or part of a house used by you for your own residence is exempted from tax. If you have two or .....

More Tax on House Property Income under Direct Tax Code

The Direct Tax Code will change the whole tax structure of the country, and every corporate and individual will require in-depth study before its implication. Moreover, it is probable to withstand many emendations before it is conclusively performed. In this article, I will analyze some concept of House Property that will impact the house property income. There will be major changes in the income of house property. Other sources income will come under house property .....