https://www.taxtmi.com/article/detailed?id=852 Chapter VII reforms house property taxation by treating gross rent on a receipt or accrual basis, retaining a presumptive valuation route, and permitting deductions for local taxes, a reduced repair-and-maintenance allowance, and interest on borrowed capital. The draft relocates the interest deduction to a deduction from gross total income with a per-property cap for individuals and HUF, thereby affecting loss set-off under the house property head. Letting inseparable from furniture or plant is to be taxed as house property income. en-us Sat, 26 Jun 2010 18:38:48 +0530 Sun, 27 Jun 2010 23:31:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=852 Chapter VII reforms house property taxation by treating gross rent on a receipt or accrual basis, retaining a presumptive valuation route, and permitting deductions for local taxes, a reduced repair-and-maintenance allowance, and interest on borrowed capital. The draft relocates the interest deduction to a deduction from gross total income with a per-property cap for individuals and HUF, thereby affecting loss set-off under the house property head. Letting inseparable from furniture or plant is to be taxed as house property income. Articles Income Tax Sat, 26 Jun 2010 18:38:48 +0530 https://www.taxtmi.com/article/detailed?id=852