Costing and Taxation · Class 12 Commerce

Ch 6Income from House Property — Class 12 Costing and Taxation, concept-first.

This chapter grounds every numerical on Assessment Year 2026-27 (income of Financial Year 2025-26).

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Concepts

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Key concepts

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Computation of Income from Self-Occupied House Property

For one house property an owner occupies for their own residence throughout the year, Section 23(2) fixes the Annual Value at Nil, which means no Standard Deduction under Section 24(a) is ever available (30% of Nil is Ni…

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Chapter contents

The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.

6.i

Chargeability and Determination of Annual Value (Sections 22 and 23(1))

This chapter grounds every numerical on Assessment Year 2026-27 (income of Financial Year 2025-26).

6.ii

Computation of Income from a Let-Out House Property

Once the Gross Annual Value of a let-out property is fixed under Section 23(1) (Section 6.i above), computing the actual taxable Income from House Property follows one fixed sequence of deductions, la…

6.iii

Computation of Income from a Self-Occupied House Property

Where an assessee occupies ONE house property for their own residence throughout the year and derives no rental benefit from it, the Act treats it very differently from a let-out property.

Terms Introduced in the Chapter

This section collects, in one place, every term and rule introduced in this chapter, for quick reference and revision.