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<h1>Income from house property is taxed under its own category, with exemptions for certain SEZ properties and multi-owner rules.</h1> Income from house property is computed under the 'Income from house property' category, regardless of its use in trade, commerce, or business. For properties owned by multiple individuals with definite shares, income is calculated separately for each owner. If shares are not definite, owners are assessed as an association of persons. Exemptions include properties used as hospitals, hotels, convention centers, or cold storage within a Special Economic Zone, where income is categorized under 'income from business,' and properties not ready for use during the financial year.