Owner definition clarifies who is treated as owner for house property income, including transfers and long-term rights. Definition of owner for income from house property: individuals who transfer property without adequate consideration to spouse (except where living apart) or to a minor child (other than a married daughter); holders of impartible estates deemed individual owners for estate properties; members allotted or leased building parts under a house-building scheme; persons permitted possession in part performance of a contract under section 53A Transfer of Property Act; and persons acquiring rights in a building other than short-term leases, including by sale, exchange, long-term leases, or transactions enabling enjoyment of the property.
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.
Owner definition clarifies who is treated as owner for house property income, including transfers and long-term rights.
Definition of owner for income from house property: individuals who transfer property without adequate consideration to spouse (except where living apart) or to a minor child (other than a married daughter); holders of impartible estates deemed individual owners for estate properties; members allotted or leased building parts under a house-building scheme; persons permitted possession in part performance of a contract under section 53A Transfer of Property Act; and persons acquiring rights in a building other than short-term leases, including by sale, exchange, long-term leases, or transactions enabling enjoyment of the property.
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