house property
This query is : Resolved
19 June 2009
Interest paid on Industrial Gala is which is given on rent.
so the income is to be taken in House prop. or Buss. income
so the income is to be taken in House prop. or Buss. income
CA.SHAHZAD SAYYED
(Expert)
19 June 2009
Dear Gunjan
if u r doing the business of letting out the houses and houses are "Stock in trade" then such Rent shall be charged under Business Income, in any other case Letting out Gala shall be charged under HP income
if u r doing the business of letting out the houses and houses are "Stock in trade" then such Rent shall be charged under Business Income, in any other case Letting out Gala shall be charged under HP income
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