Composite rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 November 2012
I WOULD LIKE TO KNOW 1)IF A PROPERTY IS LET OUT WITH AN AIR- CONDITIONER THEN HOW CAN I JUDGE THAT THE RENT SHOULD BE PGBP OR UNDER HP INCOME 2) WHAT IS MEAN BEY THE WORD INCIDENTIAL SERVICES OR LETTING OUT AN ASSET TAKE THE FOLLOWING EXAMPLE : IF A H.P IS LET OUT WITH AN AIR CONDITIONER THEN HOW CAN U JUDGE THAT IT IS NOT AN LETTING OUT OF AN ASSET OR INCIDENTIAL SERVICES GIVEN IS IT WILL TOTALLY DEPEND ON TERMS OF AN CONTRACT AND EVEN ANY PERSON DIFERRENCIATE THE TERMS OF THE CONTRACT THEN WHAT WILL BE HIS GAIN AND IS IT POSSIBLE TO CHANGE THE INCOME TAX LAW BY ANY AGREEMENT? MY EXAM IS COMING PLEASE HELP ME OUT
01 December 2012
Letting out of building along with furniture will be taxable as Income from House Property.
The main asset is the building. Furniture is always incidental to building.
The main asset is the building. Furniture is always incidental to building.
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