https://www.taxtmi.com/article/detailed?id=10397 Notional rental income of house property held as stock-in-trade should not be taxable under Income from House Property because such property is occupied for business purposes and income from it is chargeable as business income. Although an amendment deems annual value nil for a limited post-construction period, once that period ends annual value would otherwise be determined; the author argues this creates inconsistency with the business-occupation exclusion and with accounting for real income, and that practical deductions for vacancy or unrealizable rent will neutralize any notional inclusion. en-us Thu, 12 May 2022 17:37:04 +0530 Thu, 12 May 2022 17:37:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10397 Notional rental income of house property held as stock-in-trade should not be taxable under Income from House Property because such property is occupied for business purposes and income from it is chargeable as business income. Although an amendment deems annual value nil for a limited post-construction period, once that period ends annual value would otherwise be determined; the author argues this creates inconsistency with the business-occupation exclusion and with accounting for real income, and that practical deductions for vacancy or unrealizable rent will neutralize any notional inclusion. Articles Income Tax Thu, 12 May 2022 17:37:04 +0530 https://www.taxtmi.com/article/detailed?id=10397