How to treat
This query is : Resolved
08 August 2014
A Assessee lease house property for the term of 5 years and receive amount of 800000 as advance it will be return to the tenant at the end of the 5th year. He (Assessee) Not receiving any amount as a monthly rent from tenant . The assessee give the 800000 as loan to the outsider and receiving 9000 as interest for the loan how the income of HP income & Interest income for the purpose incomtax
08 August 2014
The interest amount of 9000 per month may be taken as rental income for the purpose of income tax.
08 August 2014
it is taxable under income from other sources.
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