Why has the Direct Taxes Code dropped the concept of annual value in house property taxation?

Rohit Seksaria, Jhunjhun

This is quite inexplicable because the concept was working reasonably well, putting the fear of God at least on law-abiding landlords.

Now with the market rent ceasing to be a factor, it is the word of the landlord that is final. He may take part of the rent on the sly outside books. I think this move sticks out as a glaring example of a change for change's sake without achieving anything.


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(This article was published in the Business Line print edition dated November 1, 2010)
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