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.