House property

This query is : Resolved

priyankl (Querist)
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14 July 2014 Sir/madam ,

I am a owner of 3 house of which two are let-out and one is self-occupied and showing income under house property.
Now i am planning to open a pvt. company under which company would purchase property in its own name and whose business is of letting of house. can i do this..?

thanks & regards.

Nischit Sanghavi

Nischit Sanghavi (Expert)
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16 July 2014 When an assesse is in the business of letting of House Property then his income will be consider under the head of Income from House Property. Income earning from letting out property, would be assessed under House Property.

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Soumitra Basu

Soumitra Basu (Expert)
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17 July 2014 I DO NOT FIND ANY REASON WHY YOU CANNOT DO IT. BUT TAX LIABILITY MAY BE HIGHER.

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priyankl

priyankl (Querist)
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19 July 2014 Nischit sir,

I want to know that,
suppose if company is not letting a house but run the same as a hostel business then also it would be treated as income from house property or business income.

Nischit Sanghavi

Nischit Sanghavi (Expert)
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21 July 2014 Then it will be treated as business income.

Nischit Sanghavi

Nischit Sanghavi (Expert)
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21 July 2014 Then it will be treated as business income.

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