Section 20 Income Tax Act 2025 Income from house property.

 20.(1) The annual valueof property consisting of any buildingsor lands appurtenantthereto, owned by the assessee shall be chargeable to income-tax under the head “Income from house property”.

(2) The provisions of sub-section (1) shall not apply to such portions of the property, as the assessee may occupyfor his business or profession, the profits of which are chargeable to income-tax.