Write short notes on any two of the following:(i) Deemed Owner of House Property(ii) Deemed Seizure(iii) Appeal before Appellate Authority(iv) Belated and Revised Return.”
⭐ QUESTION 8 “Write short notes on any two of the following: (i) Deemed Owner of House Property (ii) Deemed Seizure (iii) Appeal before Appellate Authority (iv) Belated and Revised Return.” I am giving detailed notes on all four topics , so you can choose any two in exam. ⭐ (i) DEEMED OWNER OF HOUSE PROPERTY (Section 27 , read with Section 22 of Income Tax Act) Under the Income Tax Act, ownership of house property is not limited to the person whose name appears in the title deed. Certain persons are treated as “Deemed Owners” even though they may not be the actual legal owner of the property. This is to prevent tax evasion , ensure correct taxation, and avoid benami transactions. Persons Treated as Deemed Owners (Sec. 27): 1. Transfer to spouse (other than for adequate consideration) If a husband transfers property to wife without proper consideration, the husband remains the deemed owner . 2. Transfer to minor child Except for a child who is minor daughter marrie...