24. (1) The tax shall be payable by an assessee under the head “Income from house property” in respect of the annual value of any property ¹[, whether used for commercial or residential purposes,] consisting of any building ²[,furniture, fixture, fittings etc.] and lands appurtenant thereto of which he is the owner, other than such portions of the property as he may occupy for the purposes of any business or profession carried on by him, the income from which is assessable to tax under this Ordinance. (2) Where any such property as is referred to in sub-section (1) is owned by two or more persons and their respective shares are definite and ascertainable, such persons shall not constitute and shall not be deemed to be, an association of persons; and for the purpose of computation of the income of an assessee in respect of that property, only such part of such income as is proportionate to the share of the assessee shall be reckoned as his income from that property.