Income Tax Budget 2024: Now you canât show rental income under âgains of businessâ head to evade tax. Why it matters
Your income from letting out of a house or part of your house will henceforth not be charged under the head âprofits and gains of business or professionâ. Instead, it will be chargeable only under the head âincome from house propertyâ. The government announced this change in tax regulation in the Union Budget 2024. It…