17 October 2011
if a person only source of income is the rent he recieves on hoardings banner on his residential building than under which head his incime will be taxed
17 October 2011
As per decided case law by bcutta High Court in the case of Mukherjee Estate (P) Ltd v. CIT (2000) 244 ITR 1. It was decided that the assessee let out the roof for advertisement for hoarding and that the income cannot be considered as income from house property as hoardings do not form part of the building. Such income is chargeable under the head “Income from other sources”. However, if assessee has an agreement to rent his terrace to the party then it would be income from house property but if he has an agreement to rent hoarding or build tower then it will be income from other sources.
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