§ 24
Chapter IV — Computation Of Total Income
Property owned by co-owners
Income-tax Act, 2025
Co-owners of a property with a clear share are taxed individually, not as a group. Their income from the property is added to their total income based on their share. They are also eligible for relief under section 21(6) as if they were individual owners.
- Relief is provided as per individual entitlement.
📜 Official text of the section +
24. (1) For property co-owned with definite and ascertainable share, the
co-owners shall not be assessed as an association of persons and their
income computed separately under this Part as per their respective share shall be
included in their total income.
(2) The relief available under section 21(6) shall be provided as if each co-owner is
individually entitled to the said relief.
Interpretation.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.