Section 24: Property owned by co-owners

The Income-tax Act, 2025Central Act · Act 30 of 2025

Property owned by co-owners.

(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.

Where this provision sits

Act	The Income-tax Act, 2025
Section	24
Marginal note	Property owned by co-owners
Jurisdiction	Central
Status	In force as published by the source

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