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Practical Income Manual 2021.

General considerations

The real estate of which the taxpayer is the owner or usufructuary may have one or different uses or destinations during the year and said uses condition both the obtaining or not of income subject to Personal Income Tax and the type of subject income that must be declared (for example, a property that, in whole or in part, has been leased, subleased or transferred to third parties during the year, giving rise therefore to obtaining income from the real estate capital, and that also has remained successively or simultaneously, at the disposal of the taxpayer, giving rise to the imputation of real estate income).

For this reason, section “C” of the declaration under the title “List of real estate and income derived from real estate at the disposal of its owners, leased or transferred to third parties, or used for economic activities” is intended to identify each property, property of the taxpayer or the person holding the right of usufruct, and its uses during the year, collecting the necessary information to declare the income from real estate capital and the imputed real estate income that corresponds to them.