Rental Income received from letting out property is taxable under head “Income from House Property”: ITAT allows deduction u/s 24(a) of Income Tax Act [Read Order]

By Aparna. M - On November 14, 2023 11:00 am - 2 mins read
Rental Income received - from letting out property is taxable - Income from House Property - ITAT allows deduction - Income Tax Act -TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Delhi bench held that rental income received from letting out property is taxable under the head “Income from house property.” Therefore, the bench allowed a deduction under Section 24(a) of the Income Tax Act, 1961. The assessee, U & I Business Services Pvt. Ltd., is a resident corporate entity…

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