Cases where Income from house property is wholly exempted

1. Income from any farm house forming part of agricultural income;
2. Annual value of any one palace in the occupation of an ex-ruler; Section 10(19A)
3. Property Income of a local authority; Section 10(20)
4. Property Income of an authority, constituted for the purpose of dealing with and satisfying the need for housing accommodation or for the purposes of planning development or improvement of cities, towns and villages or for both. (The Finance Act, 2002, w.e.f. 1.4.2003 shall delete this provision.);
5. Property income of any registered trade union; Section 10(24)
6. Property income of a member of a Scheduled Tribe;
7. Property income of a statutory corporation or an institution or association financed by the Government for promoting the interests of the members either of the Scheduled Castes or Scheduled tribes or both;
8. Property income of a corporation, established by the Central Govt. or any State Govt. for promoting the interests of members of a minority group;
9. Property income of a cooperative society, formed for promoting the interests of the members either of the Scheduled Castes or Scheduled tribes or both;
10. Property Income, derived from the letting of godowns or warehouses for storage, processing or facilitating the marketing of commodities by an authority constituted under any law for the marketing of commodities;
11. Property income of an institution for the development of Khadi and village Industries;’
12. Self-occupied house property of an assessee, which has not been rented throughout the previous year;
13. Income from house property held for any charitable purposes;
14. Property Income of any political party. Section 13A

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