According to Income Tax Act, 1961, under section 22 , which property will not be treated as house property from the following :- (a) Cinema hall (b) Godown (c) Stadium (d) Ruined house
Explanation: These types of properties are not considered as residential houses and, therefore, do not fall under the definition of "house property" for income tax purposes.
However, a ruined house may still be treated as a house property for income tax purposes, as long as it meets the definition of a house property under the Income Tax Act. The condition is that the property should be used for residential purposes or have the potential to be used for residential purposes.
It's important to note that tax laws may vary based on the jurisdiction and may be subject to interpretation. Consulting a tax professional or referring to the specific provisions of the Income Tax Act in your country will provide accurate and up-to-date information.
Answers & Comments
Answer: (a) Cinema hall
(b) Godown
(c) Stadium
Explanation: These types of properties are not considered as residential houses and, therefore, do not fall under the definition of "house property" for income tax purposes.
However, a ruined house may still be treated as a house property for income tax purposes, as long as it meets the definition of a house property under the Income Tax Act. The condition is that the property should be used for residential purposes or have the potential to be used for residential purposes.
It's important to note that tax laws may vary based on the jurisdiction and may be subject to interpretation. Consulting a tax professional or referring to the specific provisions of the Income Tax Act in your country will provide accurate and up-to-date information.
Answer:
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