Does Income From Property Qualifies For An Exemption In Income Tax?

If the income from the property meets any of the conditions specified below, the concept of tax on rental income will not apply.

  • If the landlord makes money by renting out his or her farmhouse.
  • If the landlord rents out their property to the local authorities and receives money from them.
  • If the landlord is receiving income by renting out their property to a government-approved and recognised scientific research association.
  • Any rental income received from renting out property to an educational institute, a trade union, or a political party is not subject to tax on rental income in India in 2021-22.
  • Property owners who have rented out their property for charitable purposes are not required to pay tax on rental income.
  • Property owners that are running their own business from the property.
  • The concept of tax on rental income won’t apply to self-occupied property.

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