Income tax_query
Lakshmi (Article) (166 Points)
22 December 2015Lakshmi (Article) (166 Points)
22 December 2015
J. K. Ratan
(Compliance Advisor)
(794 Points)
Replied 22 December 2015
Dear Sir/Ma'am
Yes He/she can do so...
- This will have to be consider in your income tax return under the head "Income from Other Sources"
- You can claim deduction U/s 57 of Income tax Act 1961 for Interest paid to lender for generate this Income
- If there is any business Income and which is fullfill the all conditions specified U/s 44AD of Income Tax Act than you can file ITR 4S U/s 44AD.
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