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house property

This query is : Resolved 
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(Querist)
10 July 2009 let a person having a money lending business and forfieted the building due to non receiving the lending money

and if such person give this building on lease & receiving rent

then rental income in which head to be shown
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
11 July 2009 If the assessee has become owner of H.P. then it is taxable under the head HP otherwise income from other sources.
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CA Bosu babu

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CA Bosu babu (Expert)
11 July 2009 IHP------even real ownership is not there....on seeing primafacie he will be owner since he is having possession and control....so IHP only will come
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