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CMA Intermediate · Direct and Indirect Taxation · Income from House Property

Under the Income-tax Act, 2025, which of the following is the basic condition for the annual value of a property to be chargeable under the head 'Income from house property'?

The annual value is chargeable as income from house property when the property consists of buildings or lands appurtenant to them and is owned by the assessee. Letting, residential use or tax payment is not a condition of chargeability under the section.

  1. AThe property consists of buildings or lands appurtenant thereto and is owned by the assesseeCorrect
  2. BThe property is let out to a tenant and rent is actually received
  3. CThe property is used by the assessee only for residential purposes
  4. DThe property is registered in the assessee's name and municipal tax has been paid

Explanation

Section 20(1) charges the annual value of property consisting of buildings or lands appurtenant thereto, owned by the assessee. Letting, residential use and payment of municipal tax are not conditions for chargeability, so the other options add requirements the section does not contain.

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