Section 24
Section 24: property owned by co-owners
Section 24 clarifies how house property income is taxed when a property has more than one owner with clearly defined shares - each co-owner is taxed individually on their own share, rather than the group being taxed together as an association of persons.
This explanation is AI-assisted and pending review by our CA/CS team. It is general information, not professional advice - always cross-check against the bare law text above or talk to our tax team for guidance specific to your situation.
What Section 24 says
Where a property is co-owned and the co-owners' shares are definite and ascertainable, the co-owners are not assessed as an association of persons for that property. Instead, each co-owner's share of the income (computed separately under this Part) is included in their own individual total income (section 24(1)).
The self-occupied nil-annual-value relief available under section 21(6) is given to each co-owner individually, as if each co-owner were separately entitled to it (section 24(2)).
Frequently asked questions
If I co-own a house 50-50 with my sibling, how is the rental income taxed?
Each co-owner is taxed individually on their own share of the income (50% each, in this example) - the co-owners are not clubbed together and taxed as an association of persons.
Can each co-owner separately claim the self-occupied property benefit?
Yes - Section 24(2) says each co-owner is treated as individually entitled to the section 21(6) self-occupied relief.
Related sections
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Talk to our tax team about this sectionLast updated 9 September 2026