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of <h1>Understanding Income from House Property: Section 22 Taxation Details and Exceptions Explained</h1> Section 22 of the Income Tax Act outlines the chargeability of income from house property. The annual value of any building or land appurtenant thereto, owned by the assessee, is taxable under 'Income from house property.' Ownership includes deemed ownership, and disputes are resolved by the Income Tax Department until court decisions. Exceptions include properties used for business purposes by the owner, properties held as stock in trade, and properties let out with supplementary business objectives. Rental income from properties used by firms or for specific events like weddings is taxed under 'Income from Business/Profession.' Properties located outside India are also covered.
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