Rent from shop
Trainee (Accounts Executive) (325 Points)
20 April 2014
How to show rent recd from shop given on rent to bank for ATM?
Under head income from house property?
CA Devanand Jethanandani
(CA)
(8003 Points)
Replied 20 April 2014
Yes, under the head 'House Property'
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2010 Points)
Replied 21 April 2014
Dear Vikram
Rent must be taxable under the head income from house property and all the benefit of section 24 is available to such income.
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