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Rental Income

ITAT allows the claim of Standard Deduction on Income from Letting out Property

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Delhi Bench allowed the claim of standard deduction in respect of income from letting out property. The...

Notional Interest earned on the Security Deposit not to be taken into consideration while Computing...

Payment for Acquisition of Leasehold Rights over an Immovable Property is not Rental Income, No TDS...

Receipt from Renting Out of building Taxable as ‘Rental Income’ or ‘Other Income’Even If such...

Income from Maintenance Services Taxable as 'Other Income' can’t be included in Rental Income: ITAT...

Charitable Trust is not eligible for Standard Deduction for Rental Income: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi held that the Charitable trust is not eligible for standard deduction at the rate of 30% u/s 24 (a) of the Income Tax Act, out of the rental income...

Rent received by Trust from Shops Purchased out of Surplus Fund is Taxable: ITAT [Read Order]

The rental income received by a Trust from the properties purchased out of the surplus fund is not exempted under the Income Tax Act, 1961, said the Delhi bench of the Income Tax Appellate Tribunal...

11 CHS Members including Four CAs booked for alleged Misappropriation of Rental Income

In a case relating to alleged misappropriation of rental income of Rs 1.15 crore accruing to Namaskar co-operative housing society, the rabale police have booked 11 members including four chartered...

Chartered Accountant CAs Income Tax - Evasion

Rental Income from Letting Out Properties by Builder is House Property Income: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) bench has held that the rental income received by the builder cannot be treated as business income and the same must be taxable under the head “Income from...

Budget 2019 proposes Major Relief on Rental Income

The Budget 2019 proposed by the Finance Minister Piyush Goyal has granted two major reliefs to the persons being taxed under the head house property income. Firstly, the budget proposes to exempt the...

Enjoyment of Property with Ownership Rights necessary condition for ‘Deemed Owner’: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Mumbai bench has held that to treat a person as ‘deemed owner’ of the property for the purpose of Income Tax Act, it is a necessary condition to prove that...

Rent received after purchase of already let out Warehouse is ‘House Property Income’: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the rental income received after the purchase of an already let out warehouse is taxable as income from house property. The...

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