Income from House Property vis-à-vis to Current Budget 2025
Lead author · Corresponding
Vaishnavi Sainee
Student at Jagran Lakecity University, Bhopal, M.P., India
Abstract
Since Ancient times Taxes have been collected in various forms by the Kingdoms of the Country. Imposition and assemblage of taxes are the only sources of revenue generated by the Government for the strides of the Country. In the prevailing scenario, to regulate the taxation system in India the Indian Government has promulgated the Income Tax Act, 1961. It has undergone several amendments. This paper has explicated the Income generated from the house property along with its provisions stated in the Act and the prominent case laws. The Paper also highlights the alteration in the Current budget for 2025.
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