Academic MBA Question:
Income from house
property is the only income that is charged on the notional basis. It means
that the incidence of tax depends not only on the income earned from the
property, but also on the inherent potential of the property to earn income.
Tax has to be paid even in cases where no income is being earned. Discuss the
Cases where income from house property is not chargeable to tax under the head
‘Income from House Property and thus chargeable under any other head.
Academic Assignment Answer: