Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Clarification on Reporting Rental Income: New Tax Rules from April 2025
Update / Judgement Date
26 Jul 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Corporate ComplianceIncome Tax
Starting April 2025, rental income from residential properties must be reported under "Income from House Property" instead of "Profits and Gains of Business or Profession." This change aims to prevent taxpayers from reducing their tax liability by incorrectly categorizing rental income. The amendment to Section 28 of the Income Tax Act will ensure proper classification and taxation of rental income for the assessment year 2025-26 onwards.
