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Sometimes, tax is payable on deemed income from unoccupied house

A house owner can claim only up to two properties as self-occupied

Topics
Income tax | IT act | property

Bindisha Sarang 



tax
A property that was let out throughout the financial year is governed by Sections 23(1)(a) and 23(1)(b).

Section 23 of the Income- (I-T) Act, 1961, governs how the annual value of a is determined for calculating income from house (and thereby arriving at a house owner’s liability). This section can be confusing as the rules that apply vary in different scenarios. owners need to understand them to avoid being hauled up by authorities. .

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First Published: Thu, August 18 2022. 00:55 IST

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