Which person receiving rent for letting a building is not assessed under the head Income from house property?
Question and options
Which person receiving rent for letting a building is not assessed under the head Income from house property?
A person who gifted the building to their spouse
A lessee under a 15-year lease of the building
A tenant on a month-to-month lease who sublets it
The registered owner of the building
Answer and explanation
Section 20 of the Income-tax Act, 2025 charges the owner, and section 25 adds deemed owners, including a person who transferred the building to a spouse without adequate consideration and a person who holds a lease of not less than twelve years. Section 25(e) expressly excludes rights under a lease from month to month or for not more than one year, so rent from subletting by such a tenant is income from other sources.
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