CS Executive Tax Laws & Income Tax Notes

Income from House Property — CS Executive Tax Laws & Practice (Direct Tax) complete self-study notes for ICSI June 2026 examination. These notes cover the entire House Property chapter under Sections 22 to 27 of the Income Tax Act, 1961 — including determination of Annual Value for let-out property, self-occupied property, and deemed let-out property. Detailed explanation of Gross Annual Value (GAV) computation using Municipal Value, Fair Rent, Standard Rent, and Actual Rent Received or Receivable. Covers both deductions available under Section 24 — Standard Deduction of 30% on Net Annual Value and Deduction for Interest on Borrowed Capital (pre-construction interest spread over 5 years and post-construction interest). Special provisions for self-occupied property including the maximum interest deduction limit of Rs 2,00,000 under Section 24(b) for loans taken for construction or purchase. Also covers deemed ownership provisions under Section 27, treatment of unrealised rent, arrears of rent under Section 25A, and computation of income when the assessee owns multiple house properties. Each topic explained with step-by-step solved illustrations, detailed working notes, and exam-oriented answer presentation format. Previous ICSI question paper problems on House Property solved with complete workings. Includes Do By Yourself practice questions for self-assessment. Prepared by Rainy Goodwill, Goodwill Tuition Centre, Ernakulam, Kerala — 28 years of Income Tax coaching experience. WhatsApp 9567902805 for one-to-one online CS Executive coaching."

Short points below:

Income from House Property — Topics Covered:

• Annual Value determination — Municipal Value, Fair Rent, Standard Rent, Actual Rent

• Self-Occupied Property (SOP) provisions and limits

• Let-Out Property (LOP) — GAV computation with solved problems

• Deemed Let-Out Property rules for multiple house ownership

• Section 24(a) — Standard Deduction of 30%

• Section 24(b) — Interest on Borrowed Capital (pre and post construction)

• Maximum interest deduction limits — Rs 2,00,000 for SOP

• Unrealised Rent and Arrears of Rent — Section 25A

• Deemed Ownership — Section 27

• Previous ICSI solved question papers with working notes

• Do By Yourself practice problems

Capital Gains — CS Executive Tax Laws & Practice (Direct Tax) complete self-study notes for ICSI June 2026 examination. These notes cover the full Capital Gains chapter including meaning and types of Capital Assets under Section 2(14), distinction between Short Term Capital Gains (STCG) and Long Term Capital Gains (LTCG), computation of capital gains using Cost Inflation Index (CII) for indexation, and all important exemptions — Section 54 (residential house), Section 54B (agricultural land), Section 54EC (NHAI/REC bonds), and Section 54F (any long-term capital asset). Each exemption is explained with conditions, time limits, lock-in periods, and maximum exemption amounts. Includes step-by-step solved illustrations with working notes covering sale of property, sale of shares and mutual funds, capital gains on depreciable assets, and deemed transfer provisions under Section 47. Practice problems with self-assessment questions included. Prepared by Rainy Goodwill, Goodwill Tuition Centre, Ernakulam, Kerala — 28 years of Income Tax coaching experience. WhatsApp 9567902805 for one-to-one online CS Executive coaching."