details of income from building rent
This query is : Resolved
29 November 2012
Dear sir,
whether or not the income is rental income or business income in the following case?
an individual participation in the business in his own place then rent is paid to individual by business.
Dear sir,
whether or not the income is rental income or business income in the following case?
an individual participation in the business in his own place then rent is paid to individual by business.
Amol S Joglekar
(Expert)
29 November 2012
Rent paid by proprietory busines to the proprietor has no place in income tax. But in other forms of organisation like firm, company... the rent received by the individual is income from house property,
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