Land

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  The Income Tax Act divides the income received by an individual into various sections to simplify the tax calculation.

  
  


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  Income derived from a household property as rental income or through its transaction referred to as ‘income from the house property.

  
  


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  It should be an overhanging structure with occupancy capacity.

  
  


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  By definition by law, a ‘house property’ is any building or land owned by a taxpayer. Such buildings may used for commercial or residential purposes.

  
  


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  Income from house property includes Flats, shops, workplace areas, works sheds, business buildings, agricultural land, farmhouses, etc.

  
  


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  This is the value of your property dealer near valued by the municipal authorities in which they collect municipal taxes.

  
  


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  Before awarding municipal value, there are many factors that municipal officials need to consider.

  
  


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  Under the Rent Control Act, fixed rent is fixed and landlords cannot receive more rent than specified in the Rent Control Act.

  
  


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  This law ensures that landlords are paid fair rent, that tenants are not exploited, and that they are protected from eviction.

  
  


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  Gross periodic value (GAV) refers to the income that can be earned from the immovable property.

  
  

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