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The Income Tax Act divides the income received by an individual into various sections to simplify the tax calculation.
Income derived from a household property as rental income or through its transaction referred to as ‘income from the house property.
It should be an overhanging structure with occupancy capacity.
The building should be the most important part of the said property covering the land and the building.Under the Rent Control Act, fixed rent is fixed and landlords cannot receive more rent than specified in the Rent Control Act.
This law ensures that landlords are paid fair rent, that tenants are not exploited, and that they are protected from eviction.The municipal valuation of your property will be published by the municipal authority in that area as fees for different areas.
Property tax payable to local authorities will be calculated based on this estimate.
Today, many municipalities offer online facilities for calculating and paying property taxes.
Author: RAJ YUVA
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