Taxation of immovable property income: income is taxable in the State where the property is situated, including usufruct rights. Income from immovable property is taxable in the State where the property is situated; this includes income from agriculture, forestry, direct use, letting or other forms of use. 'Immovable property' is defined by the law of the State where the property lies and includes accessories, rights governed by landed property law, usufruct and payments for working or rights to work mineral deposits and other natural resources, while excluding ships, boats and aircraft. The rule also applies to enterprise income from immovable property and to income used for independent personal services.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxation of immovable property income: income is taxable in the State where the property is situated, including usufruct rights.
Income from immovable property is taxable in the State where the property is situated; this includes income from agriculture, forestry, direct use, letting or other forms of use. "Immovable property" is defined by the law of the State where the property lies and includes accessories, rights governed by landed property law, usufruct and payments for working or rights to work mineral deposits and other natural resources, while excluding ships, boats and aircraft. The rule also applies to enterprise income from immovable property and to income used for independent personal services.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
