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The annual value of any property comprising of building and land appurtenant thereto, of which the assessee is the owner, is chargeable to tax under the head “Income from house property”.

Section-22  is the charging section


To charge the annual value of the house property under the head “Income from house property” the following conditions need to be satisfied:

  1. Property should consist of any building and land appurtenant thereto.
  2. Assessee must be the owner of the property.
  3. Property can be used for any purpose, but it should not be used for any business or profession carried on by the owner, the profit of which is chargeable to tax.

Other cases in which annual value of the house property under the head “Income from house property” is:

  1. Where the property is held by the assessee as stock-in-trade of a business.
  2. Where the assessee is engaged in the business of letting out of property on rent.

Exceptions :

  1. Letting out is supplementary to the main business.Where the property is let out with the object of carrying on the business of the assessee in an efficient manner, then the rental income is taxable as business income.In such a case the letting out of property is supplementary to the main business of the assessee and deductions/allowances have to be calculated as relating to profits or gains of business and not relating to house property.


  1. Letting out of building along with other facilities.Where the property is let out along with other facilities like furniture, then the rental income is taxable as business income because the income has been derived by rendering services and facilities. Where the property is let out along with machinery and the two lettings are inseparable, the income will either asBusiness income orIncome from other sources.

Thank you.

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