§ 20
Chapter IV — Computation Of Total Income
Income from house property
Income-tax Act, 2025
Business owners must pay income tax on the annual value of their owned buildings and lands. However, portions of the property used for business or profession are exempt. Key points to note include:
- the property must be owned by the assessee
- exemptions apply to portions used for business or profession
📜 Official text of the section +
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.
Determination of annual value.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.