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of <h1>Understanding Deemed Ownership: Tax Implications for Rental Income Under Section 53A of the Transfer of Property Act</h1> Rental income is taxed under 'Income from house property' in the hands of the property's owner. If a person receiving rent is not the owner, the income is not taxed under this category. However, certain individuals may be deemed owners and taxed accordingly: those transferring property to a spouse or minor child without consideration, holders of impartible estates, members of cooperative societies with allotted buildings, individuals meeting conditions under section 53A of the Transfer of Property Act, and lessees of properties leased for over 12 years. These scenarios establish deemed ownership for tax purposes.
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