where to show the rental income received on leasing of p&m,the amount received after deducting TDS @ 2%...........?
Karthik.V.Kulkarni
(Chartered Accountant)
(594 Points)
Replied 07 October 2015
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 07 October 2015
If you are into the business of renting out such P&Ms, then under profits & gains from business/profession. If not, then under other sources.
CA Himanshu Bansal
(Risk Manager)
(2345 Points)
Replied 08 October 2015
If its a regular source of income, carried on a large scale, show it under PGBP.
Else you can treat is as Income from other sources.
RAHULSMITTAL
(Partner, V Mittal & Co)
(252 Points)
Replied 08 October 2015
JAGANATHAN R ACMA, SAP(Fi-Co)
(Manager Accounts and Finance)
(915 Points)
Replied 10 October 2015
u can treat this income from business
CAclubindia
