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

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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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

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