hp income plz help me ..

Save Share

This query is : Resolved

krina (Querist)
Follow

06 February 2011 sir i hav a doubt in "income from house property "

if the assessee engaged in lending houses 4 rent i.e this is his busines ...

so wil it be taxed under "income from house property" ? if yes then why ??

thanks ...

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

06 February 2011 Yes , If the assessee is letting
out his own houses then the rental income income will be treated as income from house property.

Section 22 is a specific section for treating such income as IFHP as it prescribs that annual value (Rent) of property consisting of any building or land appurtenant thereto , other than the property from where own business is run, will be taxed under this head.

krina

krina (Querist)
Follow

06 February 2011 thanks alot sir ...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now