Bussiness income or property income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 September 2011
Dear Experts one of the assesee is running the lodging house, he has offered the tax on the basis of books of accounts keept, showing all the room receipts and claimed the expenditures, thereby, now audit objection has raised saying that it should be offer under the house property income, is it correct,
pl give me some cases in favour of cilent
pl give me some cases in favour of cilent
Dintakurthi Tirumala
(Expert)
27 September 2011
Income from Lodging house would be taxable under business head. If the property gives on rent basis to the residency purpose then it claims under house property head.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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