Immovable property thresholds regulate tax reporting applicability by requiring area based criteria for residential and commercial properties under section 139. The notification prescribes floor area thresholds by which certain properties qualify as immovable properties for the first proviso to sub section (1) of section 139 of the Income tax Act. It requires residential properties (excluding huts and kutcha dwellings) and commercial properties to meet respective minimum floor area criteria, and applies those criteria within the municipal and development area boundaries or subsidiary notifications specified for each listed urban agglomeration.
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.
Immovable property thresholds regulate tax reporting applicability by requiring area based criteria for residential and commercial properties under section 139.
The notification prescribes floor area thresholds by which certain properties qualify as immovable properties for the first proviso to sub section (1) of section 139 of the Income tax Act. It requires residential properties (excluding huts and kutcha dwellings) and commercial properties to meet respective minimum floor area criteria, and applies those criteria within the municipal and development area boundaries or subsidiary notifications specified for each listed urban agglomeration.
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