ASSIGNMENT ON INCOME

FROM HOUSE PROPERTY

TAX LAW

SANDEEP CHAWDA
BALL.B (HONS.)
SABMITTED TO -PROF. KIRAN BALA
Contents
Overview of Income From House Property .............................................................................................. 2
Rules for Calculation of Income Tax on Income from House property........................................................ 3
Self-occupied property, ..................................................................................................................... 3
Let out : ............................................................................................................................................. 4
Vacant: .............................................................................................................................................. 4
Let’s go through the rules. ........................................................................................................................ 4
Principal ............................................................................................................................................ 5
Section 80C (5) ................................................................................................................................. 5
Section 80EE:.................................................................................................................................... 6
Using Tax rules for calculation of Income from House Property ................................................................. 6
Pre-Construction stage .............................................................................................................................. 6
Self-Occupied Property ............................................................................................................................. 7
Self-Occupied Property and Away From Work place .............................................................................. 7
Rental / Deemed to be let out House Property .......................................................................................... 7
Many Houses or Multiple Property........................................................................................................... 8
Overview of Income from House property Calculation ................................................................................ 9
Terms related to Income from Let Out Property ........................................................................................... 9
Actual Rent: .......................................................................................................................................... 9
Expected rent: ....................................................................................................................................... 9
Municipal Value: .................................................................................................................................. 9
Fair Rental Value: ................................................................................................................................. 9
Standard Rent: ....................................................................................................................................... 9
Determination of the Annual Value for different type of properties........................................................... 10
Deduction of Municipal Taxes .................................................................................................................... 12
DEDUCTIONS UNDER SECTION 24 ..................................................................................................... 12
Statutory deduction: ................................................................................................................................ 13
Interest on borrowed capital:................................................................................................................... 13
The interest paid/payable for the pre-construction period ...................................................................... 13
Unrealised rent and received subsequently to be charged to Income Tax under Sec. 25AA .................... 17
Arrears of Rent Received – Sec. 25B ..................................................................................................... 17
Example of Unrealized Rent Received ....................................................................................................... 18
Coowners and Loss from Property.............................................................................................................. 19

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ACKNOWLEDGEMENT

I would like to express my special thanks of gratitude to my subject teacher kiran

bala mam who gave me the golden opportunity to do this wonderful assignment on
the topic position and liability of promoters, which helped me in doing a lot of
Research from which I came to know about so many new things in my subject. I
am thankful to her. Secondly I would also like to thank my parents and friends
who helped me a lot by giving me creative ideas and helping me in finalizing this
project within the limited time frame.

THANKING YOU

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Overview of Income From House Property

The Income Tax Act of India classifies income in five heads of which “Income from House
Property” is one of them. It comprises of income earned by a person through the property(s) owned
by him/her.

 Any residential or commercial property that you own will be taxed as well. Even if your
piece of real estate is not let out, it will be considered earning rental income and you will
need to pay tax on it. Tax you on the capacity of the real estate to earn income and not the
actual rent. This is the only head of income, which taxes notional income.
 The existence of a building is an essential prerequisite for taxation of income from house
property. If you are letting vacant land, the rent received from such letting out of land is
not taxable under the head Income from house property.
 Income from house property is taxable in the hands of owner/deemed owner of the
property. Owner is a person who is entitled to receive income from property. A deemed
owner is an owner by implication, although he may not be the owner in whose name
property is registered. For example - An individual who gifts property to his spouse or
minor child will be treated as the deemed owner of that property. Here, though legally the
owner of the property is his spouse or minor child, any income from that property will be
treated as his income.
 Where property is owned by two or more persons and their respective shares are definite
and ascertainable share of each person in the income from the property shall be included
in each of their income.

When one sells/transfers his Property and earns profit, it is taxable under Capital Gain in the
year of transfer.

Rules for Calculation of Income Tax on Income from House property

The rules related to Calculation of Income tax on Income from House Property is given below.
They vary based on whether house is

 Self-occupied property, i.e. property which is in occupation of the owner for the purpose
of his own residence.
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  Let out : Property given on rent
 Vacant: If the house is vacant it is considered as Deemed to be Let out . It is expected to
generate income for you and you need to pay tax on what you could have earned.
.

Let’s go through the rules.

 The tax is based on the potential of the property to generate income for the assesee (ex rent)
which is also called Annual value (AV). The taxability may not necessarily be of actual
rent or income received but the potential income, which the property is capable of yielding.

o The sum for which the property might reasonably be expected to let from year to year.
In cases of properties where Standard Rent has been fixed, such sum cannot exceed this
value. However, where property was vacant during the whole or part of the previous
year and rent actually received or receivable is less than expected rent, then rent
actually received or receivable is taken as GAV.
o Where property is actually let out and the rent received or receivable is more than the
amount determined in (a) above, the annual value would be the actual rent received.
o Practically read Annual Value as actual rent receivable minus rent unrecoverable for
Let out property.
o For One Self occupied property Annual Value is Nil.

 The following deductions shall be allowed from the annual value under Section 24:

o Standard deduction of 30% of the annual value.

o Interest paid/payable on borrowed capital acquired for the purpose of acquisition,
construction, repairs, renewals or reconstruction of house property subject to conditions
and limits.
o It is also important to note that this tax deduction of Interest on Home Loan under
Section 24 is deductible on payable basis, i.e. on accrual basis. Hence, deduction under

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 Section 24 should be claimed on yearly basis even if no payment has been made during
the year.

 Principal amount paid towards Housing loan for purchase or construction of House Property
is allowed as tax deduction under Section 80C of the Income Tax Act.

o The maximum tax deduction allowed under Section 80C is Rs. 1,00,000 only. This
tax deduction of Rs. 1,00,000 is the total of the deduction allowed under Section 80C
and includes amount invested in PPF Account,Tax Saving Fixed Deposits Equity
Oriented Mutual funds etc.
o Section 80C allows for deduction only on payment basis.
o Tax benefit of home loan under this section for repayment of principal part of the home
loan is allowed only after the construction is complete and the completion certificate
has been awarded.

 The amount stamp duty/ Registration charges paid while acquiring property will be allowed
deduction Under section 80C.
 If there is a Loss from House Property

o the same can be set-off against income from any other head in the same
Assessment Year.
o If the Loss cannot be set-off against income from any other head in the same
Assessment Year, the Loss is allowed to be carried forward and set-off in 8 subsequent
Assessment Years against income from House Property only.

 Section 80C (5) also states that in case the assessee transfers the house property on which he
has claimed tax deduction under Section 80C before the expiry of 5 years from the end of the
Financial Year in which the possession has been obtained by him, then no deduction and tax

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 benefit on Home Loan shall be allowed under Section 80C. The aggregate amount of tax
deduction already claimed in respect of previous years shall be deemed to be the Income of the
Assessee of such year in which the property has been sold and the Assessee shall be liable to
pay tax on such income.

 Section 80EE: Income Tax Benefit on Interest on Home Loan (First Time Buyers) A new
section in the Income Tax Act from FY 2013-14 which provides additional tax deduction of
Rs. 1,00,000 to first time home buyers. (Not available for FY 2012-13 or AY 2013-14)

 From FY 2013-14 TDS on Property would be liable to be deducted @ 1%. (Not available for
FY 2012-13 or AY 2013-14).

Using Tax rules for calculation of Income from House Property

Computation of income from house property can be broadly divided into following cases and let’s
see how the above rules will be applied for getting Annual Value,

Pre-Construction stage
 The interest paid/payable for the pre-construction period is to be aggregated and
claimed as deduction in five equal instalments during five successive financial years
starting with the year in which the acquisition or construction is completed. Pre-
construction period starts from the date on which loan is taken to March 31st, immediately
prior to the date of completion of construction.
 No deduction would be allowed under this section for repayment of principal for those
years during which the property was under construction.
 For example If one takes a housing loan of Rs 25,00,000 @4% p.a. for constructing a House
on 1st April, 2009 and Construction of house gets completed on 28th February, 2013, then
pre-construction period is 01-04-2009 to 31.03.2012 Now if the interest for above pre-
construction period amounts to Rs 3,00,000 then deduction will be available in 5 equal
instalments of Rs .60,000 each starting from the Financial year 2012-13 to 2016-17.

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Self-Occupied Property
If Self-occupied property, i.e. property which is in occupation of the owner for the purpose of his
own residence and he does not derive any other benefit out of it.

 For a self-occupied property rental income i.e. Annual Value is taken as zero.
 You will not get credit for any municipal taxes paid nor will there be any standard
deduction of 30%.
 If Home loan taken for property :
o You can deduct the interest paid on the loan availed subject to a specified limit of
1,50,000 per individual.
o Principal paid to be added to other tax saving investments made under section 80C
which has a limit of 1 lakh.

Self-Occupied Property and Away From Work place

A person may own a house property, say in Bangalore, which he normally uses for his residence.
He is transferred to Chennai where he does not own any house property and stays in a rental
accommodation.

 He can claim HRA.

 The amount of tax deduction on interest allowed under Section 24 shall be Rs. 1,50,000
only.

Rental / Deemed to be let out House Property

If the house is let out i.e. given on rent or is vacant, which is considered as deemed to be let out.

 Annual Value: Rent received or Standard Rent.

 Deduction on taxes paid to local authorities allowed.
 Standard Deduction of 30%.

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  Entire Interest payable on borrowed capital for the previous year is allowed as deduction
under Section 24(b).

Many Houses or Multiple Property

If one has many houses or multiple Properties

 Only one house of your choice will be considered as self-occupied and others will be
considered as let out or Deemed to be let out (if not let out). Therefore, you should carefully
evaluate and choose a property with less tax liability.
 For Self Occupied and Let our property(s) Rules for Self-Occupied and Let out property
apply.
 For vacant house you may need to pay Wealth tax.

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Overview of Income from House property Calculation

Annual Value of a home is the capacity of the property to earn income i.e. sum for which the
property might reasonably be expected to be let out from year to year. Computing income from
house property is shown in table below:

Gross Annual Value ****

Less: Municipal Taxes (if paid by owner) ****
Net Annual Value ****
Less: Deduction under Sec.24
1. Standard Deduction @ 30% of NAV
2. Interest on Loan ****
Income from house property ****

Terms related to Income from Let Out Property

Actual Rent: Rent received or receivable from let out property during previous year.It does not
include rent for the period during which the property remains vacant.

Expected rent: Municipal value or fair rent whichever is higher but higher value cannot exceed
Standard Rent, if Standard Rent is not applicable than Municipal value or fair rent which is higher.
Let’s look at these.

Municipal Value: The municipal value of your property is the value the municipal authorities
assign to it to charge taxes. The municipal authorities have a host of factors which they consider
to arrive at a municipal value of your property on which municipal taxes are then levied.

Fair Rental Value: The rent which a similar property in the same or similar locality would have
fetched is the fair rental value of the property.

Standard Rent: Rent Control Act was an attempt by the Government of India to eliminate the
exploitation of tenants by landlords. Rent legislation tends to providing payment of fair rent to

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landlords and protection of tenants against eviction. Under the Rent Control Act, the standard rent
is fixed and it is expected that an owner should not receive rent higher than that specified in the
Rent Control Act. The rent control laws applicable in various states in India are different with
respect to various aspects. For example there is Maharashtra Rent Control Act, Delhi Rent Control
Act, Tamil Nadu Rent Control Act, Karnataka Rent Control Act etc.

Determination of the Annual Value for different type of properties

Depending on the time period for which the property was let-out House property can be divided
into following types :

House property which is let out throughout previous year- Under Section 23(1)(a)/(b) Gross
Annual Value would be
higher of Expected Rent
and Actual Rent.

House property which is

let out and was vacant
during the whole or part
of the previous year-
There may be two
situation in this type of
house property

Actual rent
received/receivable is
more than Expected rent
in spite of vacant period-
in this situation Gross
Annual Value would be

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 actual rent received/ receivable.

Actual rent received/receivable is less than Expected rent owing to such vacancy- in this situation
Gross Annual Value would be Actual rent received/ receivable.

House property which is part of year let and part of the year occupied for own residence- Gross
Annual Value would be higher of Expected rent and Actual rent.

Summary of Calculation of Gross Annual Value for Let Out Property is shown in image below
from Taxability of Income from Real Estate.

Example of Calculation of Gross Annual Value

Find the Gross Annual Value in the case of the following properties:

1 2 3 4 5

Municipal value 52,000 1,00,000 60,000 75,000 1,80,000

Fair rent 60,000 1,02,000 68,000 70,000 1,85,000

Standard rent NA 90,000 70,000 60,000 1,75,000

Actual rent receivable 55,000 95,000 72,000 72,000 1,68,000

Unrealized rent - - 5,000 - 42,000

Loss of Rent due to Vacancy - - - 14,000

GROSS ANNUAL VALUE 60,000 95,000 68,000 24,000 1,61,000

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Explanation for arriving at Gross Annual Value for each of the property is given below.

1) Since Rent Control Act is not applicable, GAV will be the highest of municipal value, fair
rent and actual rent. Hence, the GAV will be Rs. 60,000.
2) GAV cannot exceed the standard rent or actual rent, whichever is higher. Therefore, GAV
will be Rs. 95,000.
3) Actual rent receivable will be reduced by the amount of unrealized rent i.e. Rs. 72,000 –
Rs. 5,000 = Rs. 67,000. Now, GAV will be the highest of municipal value, fair rent and
actual rent, subject to the maximum of standard rent. Hence, GAV will be Rs. 68,000.
4) GAV will be the actual rent receivable adjusted by the loss due to vacancy i.e. Rs. 72,000
– Rs. 48,000 = Rs. 24,000.
5) Actual rent receivable will be reduced by the amount of unrealized rent and loss due to
vacancy i.e. Rs. 1, 68,000 – Rs. 42,000 – Rs. 14,000 = Rs. 1, 12,000. Now, we will take
the highest of municipal value, fair rent and actual rent, subject to the maximum of
standard rent. So, GAV will be Rs. 1, 75,000 reduced by the loss due to vacancy i.e. Rs. 1,
75,000 – Rs. 14,000 = Rs.1, 61,000.

Deduction of Municipal Taxes

From the Gross annual value as determined above municipal taxes are to be deducted if the
following conditions are fulfilled:

 The property is let out during the whole or any part of the previous year
 The Municipal taxes must be borne by the landlord (If the Municipal taxes or any part
thereof are borne by the tenant, it will not be allowed)
 The Municipal taxes must be paid during the year (Where the municipal taxes become due
but have not been actually paid, it will not be allowed. Similarly, the year to which the
taxes relate to, is also immaterial)

DEDUCTIONS UNDER SECTION 24

Two deductions will be allowed from the net annual value (which is gross annual value less
municipal taxes) to arrive at the taxable income under the head income from house property.
The deductions admissible are as under:

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Statutory deduction: 30 per cent of the net annual value will be allowed as a deduction towards
repairs and collection of rent for the property, irrespective of the actual expenditure incurred.

Interest on borrowed capital: The interest on borrowed capital will be allowable as a deduction on
an accrual basis if the money has been borrowed to buy or construct the house. Amount of interest
payable for the relevant year should be calculated and claimed as deduction. It is immaterial
whether the interest has actually been paid during the year or not.

The interest paid/payable for the pre-construction period is to be aggregated and claimed as
deduction in five equal installments during five successive financial years starting with the year in
which the acquisition or construction is completed. The deductions are shown in image below:-

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Income from House property which is let out throughout previous year
Ravi owns a house which is let out for a rent of Rs 11,000 per month. The municipal value of this
house is Rs 1,30,000 p.a, fair rental value is Rs 1,10,000 p.a, standard rent is Rs 1,20,000 p.a . If
municipal taxes are 10% of municipal evaluation. Interest on borrowed capital was Rs 40,000 for
the year.

Description Amount (Rs.) Amount (Rs.)

Compute Gross Annual Value
Highest of (Municipal Evaluation,Fair
1 1,20,000
Rent) but restricted to Standard Rent
2 Actual Rent Received 11,000 * 12 1,32,000
Gross Annual Value (Highest of 1 and 2) 1,32,000
3 Gross Annual Value 1,32,000
4 Municipal Tax (10% of 1,20,000) 13,000
5 Net Annual Value (3-4) 1,19,000
Deductions under Section 24
6 30% of Net Annual Value (.3 * 1,19,000) 35,700
Interest on borrowed capital (without any
7 40,000
ceiling)
8 Total deductions (6+7) 75,700
Income from house property ( 5 – 8 ) 43,300

Income from House property which is let out and was vacant for part of the previous year

Rekha owns a house with municipal valuation as Rs 2,50,000 p.a, fair rental value is Rs 2,00,000
p.a, standard rent is Rs 2,10,000 p.a . It was let out for a rent of Rs 18,000 per month. However
tenant vacated the property on 31.01.2013 If municipal taxes paid are 8% of municipal valuation,
Interest on borrowed capital was Rs 65,000. What would be the income from Let out property :-

Description Amount (Rs.) Amount (Rs.)

Compute Gross Annual Value
1 Highest of (Municipal Evaluation, Fair 2,10,000
Rent) but restricted to Standard Rent
2 Actual Rent Received 18,000 * 11 1,98,000
Gross Annual Value (Lowest of 1 and 2) 1,98,000
due to vacancy
3 Gross Annual Value 1,98,000
4 Municipal Tax (8% of 2,50,000) 20,000
5 Net Annual Value (3-4) 1,78,000
Deductions under Section 24

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 6 30% of Net Annual Value (.3 * 1,78,000) 53,400
7 Interest on borrowed capital (without any 65,000
ceiling)
8 Total deductions (6+7) 1,18,400
Income from house property ( 5 – 8 ) 43,300

Income From House property which is part of year let and part of the year occupied for own
residence

If a house property is self – occupied for a part of the year and let out for the remaining part of the
year, the benefit of Section 23(2) (a)(i.e. the annual value will be taken as nil and only interest on
borrowed capital will be deductible upto the maximum limit of Rs. 1,50,000 or Rs. 30,000, as the
case may be) is not available and the income from the property will be calculated as if it is let out.

Mrs RajaLakhsmi owns a house with municipal valuation as Rs 5,00,000 p.a, fair rental value is
Rs 4,20,000 p.a, standard rent is Rs 4,80,000 p.a . It ws let out for a rent of Rs 50,000 per month
upto Dec 2012.There after tenant vacated the property and Mrs RajaLakhsmi However tenant
vacated the property on 31.01.2013 If municipal taxes paid are 8% of municipal valuation, Interest
on borrowed capital was Rs 65,000. What would be the income from Let out property for
assessment Year 2013-14(Financial Year 2012-13)

Description Amount (Rs.) Amount (Rs.)

Compute Gross Annual Value
1 Highest of (Municipal Evaluation, Fair 2,10,000
Rent) but restricted to Standard Rent
2 Actual Rent Received 18,000 * 11 1,98,000
Gross Annual Value (Lowest of 1 and 2) 1,98,000
due to vacancy
3 Gross Annual Value 1,98,000
4 Municipal Tax (8% of 2,50,000) 20,000
5 Net Annual Value (3-4) 1,78,000
Deductions under Section 24
6 30% of Net Annual Value (.3 * 1,78,000) 53,400
7 Interest on borrowed capital (without any 65,000
ceiling)
8 Total deductions (6+7) 1,18,400
Income from house property ( 5 – 8 ) 43,300

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Note: If a house property consists of two or more independent residential units, one of which is
self – occupied and the other unit(s) are let out, the income from the different units is to be
calculated separately.

 The income from the unit which is self – occupied for residential purposes is to be
calculated as per the provisions of Section 23(2)(a) i.e. the annual value will be taken as
nil and only interest on borrowed capital will be deductible upto the maximum limit of Rs.
1,50,000 or Rs. 30,000, as the case may be.
 The income from the let out unit(s) will be calculated in the same manner as the income
from any let out house property.

Income from House property which is let out and interest from preconstruction stage

Mr. Rajan constructed a house property for which he borrowed a loan of Rs.2 lakhs at 12% per
annum on 1.10.2007. The construction of the house was completed by end of January, 2009.
Interest pertaining to the period from 1.10.2007 to 31.3.2008 amounts to Rs.12,000. The house
property has been let-out for Rs.6,000 per month from September, 2012. Municipal taxes paid
during the previous year 2012-13 is Rs.7,500. Repairs incurred Rs.12,500. Insurance premium due
for the year but outstanding is Rs.1,500. Current year interest on the loan of Rs 24,000 is
outstanding. Computation of income from house property is as follows:

Particular Amount (Rs.) Amount (Rs.)

Gross Annual Value 12000*6 72,000
LESS Municipal Tax 7,500
Net Annual Value 64,500
LESS Deductions under Section 24
I. 30% of Net Annual Value 29,350
II. Interest on Loan 24,000
III. Interest From Pre Construction
2,400
Period
55,750
Income from house property 8,750

Interest pertaining to the period from 1.10.2007 to 31.3.2008 amounts to Rs.12,000. This amount
should have been claimed in equal installments over a period of 5 years commencing from the year
2008-09 which is the year of completion of construction, relevant to the assessment year 2009-

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2010 and ending with assessment year 2014-15. Therefore, deduction of 1/5 of interest i.e 2400
(1/5 of 12,000) can be claimed for each of the assessment year 2009-2010 to assessment year 2014-
15. No deduction can be claimed for the assessment year 2015-16 and afterwards.

Unrealised rent and received subsequently to be charged to Income Tax under Sec. 25AA

Unrealised rent is when the owner cannot realize rent from a property let to a tenant. In order to
exclude such unrealized rent in computing the actual rent received or receivable, following
conditions prescribed under Rule 4 are satisfied :

1. The tenancy is bonafide;

2. The defaulting tenant has vacated or steps have been taken to compel him to vacate the
property;
3. The defaulting tenant is not in occupation of any other property of the assessee; and
4. The assessee has taken all reasonable steps to institute legal proceedings for the recovery
of the unpaid rent or satisfies the Assessing Officer that legal proceedings would be useless.

Unrealised rent is excluded from actual rent, subject to fulfillment of conditions under Rule 4, in
the determination of annual value under section 24. Subsequently, when the amount is realized, it
gets taxed under section 25AA in the year of receipt. The amount so realized shall be deemed to
be income chargeable under the head “Income from House Property”. It would be accordingly
charged to income tax as the income of that previous year in which such rent is realized whether
or not the assessee is the owner of that property in that previous year.

Arrears of Rent Received – Sec. 25B

Where the assessee is the owner of any property which has been let to a tenant and he receives any
amount by way of arrears of rent from such property which was not charged to tax earlier, the
amount so received shall be chargeable to tax under the head “Income from House Property”. For
example , the owner may have sought enhancement of rent from the tenant and same could have
been in dispute. Subsequently, as and when the additional rent is realized, the same is liable to tax
as it was not charged to tax in any earlier years. Such an amount is assessable under Section 25B.
It shall be charged to tax as the income of the previous year in which such rent is received even if

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the assessee is no longer the owner of such property. In computing the income chargeable to tax
in respect of the arrears so received, 30% shall be allowed and consequently, 70% alone shall be
chargeable to tax. The deduction of 30% is irrespective of the actual expenditure incurred.

Unrealized rent is one which was deducted from the actual rent in any previous year for calculating
annual value. The basic difference between Sec. 25AA which deals with unrealized rent received
subsequently and Sec. 25B which deals with arrears of rent received is that 30% of the amount is
not available as deduction under section 25AA, whereas it is allowed as deduction under section
25B.

Example of Unrealized Rent Received

Mr. Lal has received a sum of Rs.15,000 from a defaulted tenant during July, 2010 out of the
arrears of Rs.25,000 due from him. Mr. Lal had claimed the unrealized rent of Rs.25,000 for the
assessment year 2011-12 as deduction under section 24. Incidentally, Mr. Lal had sold his property
during March, 2012.

Computation of taxable quantum of unrealized rent recovered where the entire unrealized rent was
claimed as deduction, the sum of Rs.15,000 recovered is chargeable to tax in the year of receipt.
The position does not change even if Mr. Lal had disposed off the property in March, 2012. The
sum of Rs.15,000 becomes chargeable under the head “Income from House Property” for the
assessment year 2013-14.

However, if only Rs.20,000 had been unrealized rent as against the arrears of Rs.25,000, the
amount chargeable to tax out of the sum of Rs.15,000 recovered is 10,000 :

Description Amount (Rs.)

1 Unrealised Rent recovered 15,000
2 Unrealised rent for which no deduction was 5,000
allowedDeduction claimed (Rs.25,000) less deduction
allowed (Rs.20,000)
Taxable amount (1-2) 10,000

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Coowners and Loss from Property

When the house property owned by co-owners is let out, income from such a property shall be
computed as if the property is owned by one owner and thereafter the income so computed shall
be divided among the co-owners as per their share.

If there is a Loss from House Property, the same can be set-off against income from any other head
in the same Assessment Year as per the provisions of Section 70

If the Loss cannot be set-off against income from any other head in the same Assessment Year,
the Loss is allowed to be carried forward and set-off in 8 subsequent Assessment Years against
income from House Property only as per the provisions of Section 71B.

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BIBLIOGRAPHY

 legalservicesindia.com

 yourarticlelibrary.com

 indiankanoon.org

 lawctopus.com

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