section 24
Property owned by co-owners
Income Tax Act 2025Tax2025570 sections23 chapters
Chapter IV COMPUTATION OF TOTAL INCOME
Statutory text
- (1) For property co-owned with definite and ascertainable share, the co-owners shall not be assessed as an association of persons and their income computed separately under this Part as per their respective share shall be included in their total income.
- (2) The relief available under section 21(6) shall be provided as if each co-owner is individually entitled to the said relief.
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