Does Rental Income Chargeable under Income Tax ? – As per the Income Tax Law the Rental income is charged to the owner under the head “Income from house property”.
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Tenets are free from the charges to the Income Tax from Income from house property. Hence, rental income received by a tenant from sub-letting cannot be charged to tax under the head “Income from house property”. Such income is taxable under the head “Income from other sources” or profits and gains from business or profession, as the case may be.