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Factory rent received by partnership firm

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Preetam Singh Shekhawat

Preetam Singh Shekhawat (Querist)
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07 July 2017 Dear Sir,

A partnership firm received rental income from one part of its own factory. Is it taxable under income in House Property Head or Income from other Sources?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 July 2017 It is taxable under income from business.

Preetam Singh Shekhawat

Preetam Singh Shekhawat (Querist)
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07 July 2017 Dear Sir,

The business of the firm is not letting out and earn rental income on it. Then how to treat it?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 July 2017 Factory is a business asset any income earned letting out a part/full will also be considered as business income.

Preetam Singh Shekhawat

Preetam Singh Shekhawat (Querist)
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08 July 2017 Dear Sir,

Do you remember any case laws on this subject matter?

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