House Property Income
This query is : Resolved
CA Rohit Mahajan
(Querist)
24 December 2010
A is owner of house property at Bhopal & is working with a PSU at Bhopal. A has entered into a lease agreement with the Co(Employer) for his house property for lease rent of Rs. 25000/- pm & give it to A(employee) for his residence.
My Qn is whether the income is taxable in the hands of A as income from House Propert or as income from other source.
Is there any impact on the answer by taking the effect of case law D.R Sunder Raj V CIT
My Qn is whether the income is taxable in the hands of A as income from House Propert or as income from other source.
Is there any impact on the answer by taking the effect of case law D.R Sunder Raj V CIT
CA Ayush Agarwal
(Expert)
24 December 2010
The Property is House. & Same Chargeable Under HP Head.Provided Lease period is Minimum 12 Years.
Here if Company Directly Take This House Property & Given to Its Employee.Then it Considered to be Business income as Same Given For Business Benefit held in That Case.
Regards,
Ayush agrawal
Here if Company Directly Take This House Property & Given to Its Employee.Then it Considered to be Business income as Same Given For Business Benefit held in That Case.
Regards,
Ayush agrawal
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