Residential house property letting income taxed under 'Income from house property', not 'Business income'. Section 28 amended for clarity from AY 2025-26.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Income from letting out residential house property by owner to be taxed under head 'Income from house property', not 'Profits and gains of business or profession'. Amendment to section 28 of Income-tax Act to clarify this, effective from assessment year 2025-26.....