TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Section 23 of Income-tax Act: Changes in Annual Value Determination for Residential Buildings Based on Completion Year.</h1> The amendment to Section 23 of the Income-tax Act, 1961, introduced by the Taxation Laws (Amendment) Act, 1970, modifies the determination of the annual value of residential buildings. For buildings completed between April 1, 1961, and March 31, 1970, a reduction in annual value is allowed for three years post-completion, based on specified conditions. For buildings completed after March 31, 1970, a five-year reduction applies. Additionally, if the property is owner-occupied, the annual value is adjusted based on the number of houses and specific financial thresholds. Certain provisions do not apply if the unit is used for the owner's residence.
TaxTMI 
TaxTMI 
