Co-ownership of property with definite shares: income taxed separately to each co-owner, relief applied individually. Co-owners with definite and ascertainable shares shall not be assessed as an association of persons; each co-owner's respective share of income from the property is computed separately and included in their total income, and the relief under section 21(6) is provided as if each co-owner is individually entitled to it.
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.
Co-ownership of property with definite shares: income taxed separately to each co-owner, relief applied individually.
Co-owners with definite and ascertainable shares shall not be assessed as an association of persons; each co-owner's respective share of income from the property is computed separately and included in their total income, and the relief under section 21(6) is provided as if each co-owner is individually entitled to it.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.