Chapter - IV
Computation of Total Income
Income from House Property
20. (1) The annual value of property consisting of any buildings or lands appurtenant thereto, owned by the assessee shall be chargeable to income-tax
under the head “Income from house property”.
(2) The provisions of sub-section (1) shall not apply to such portions of the property, as the assessee may occupy for his business or profession, the profits of
which are chargeable to income-tax.