Daily Archives: February 19, 2025

New Change for Income Tax on Self Occupied House Property from AY 2025-26

By | February 19, 2025
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ITR

New Change for Income Tax on Self Occupied House Property from AY 2025-26 Income Tax on Self Occupied House Property has been changed from Assessment Year (AY) 2025-26,  Here’s a summary: Key Changes: Broader Definition: The definition of “self-occupied” has been expanded. Now, a property can be considered self-occupied not only when the owner resides… Read More »

Annual value of the self occupied property simplified , NIl Value for Two Self occupied Property

By | February 19, 2025
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Annual value of the self-occupied property simplified As per Fianance Bill 2025 as introduced on 1st Feb 2025. Section 23 of the Act relates to determination of annual value. Sub-section (2) of the said section provides that where house property is in the occupation of the owner for the purposes of his residence or owner… Read More »