Section 27 of Income Tax Act "Owner of house property annual charge etc. defined. "
27. For the purposes of sections 22 to 26-
(i) an individual who transfers otherwise than for adequate
consideration any house property to his or her spouse, not
being a transfer in connection with an agreement to live
apart, or to a minor child not being a married daughter,
shall be deemed to be the owner of the house property so
transferred;
(ii) the holder of an impartible estate shall be deemed to
be the individual owner of all the properties comprised in
the estate;
(iii) a member of a co-operative society, company
or other association of persons to whom a building or part
thereof is allotted or leased under a house building scheme
of the society, company or association, as the case may be,
shall be deemed to be the owner of that building or part
thereof;
(iiia) a person who is allowed to take or retain possession
of any building or part thereof in part performance of a
contract of the nature referred to in section 53A of the
Transfer of Property Act, 1882 (4 of 1882), shall be deemed
to be the owner of that building or part thereof;
(iiib) a person who acquires any rights (excluding any
rights by way of a lease from month to month or for a period
not exceeding one year) in or with respect to any building
or part thereof, by virtue of any such transaction as is
referred to in clause (f) of section 269UA, shall be deemed
to be the owner of that building or part thereof;
(iv) [***]
(v) [***]
(vi) taxes levied by a local authority in respect of any
property shall be deemed to include service taxes levied by
the local authority in respect of the property.