House property
This query is : Resolved
20 December 2011
I own a Car parking space in a building located in CP. I am not the owner og the building but i let out the said parking space on rent.
I want to know rent received from the said premises wil be income from House Property or Other Sources.
Kindly reply with the Sections also.
Thank you
I want to know rent received from the said premises wil be income from House Property or Other Sources.
Kindly reply with the Sections also.
Thank you
20 December 2011
It will be income from other sources as ownership of property is must for an income to be taxed as income from house property.
20 December 2011
rent received from let out parking space is treated as income from other sources because you are not owner of building.
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