hp vs pgbp

13 September 2017
house property let out for residential thereafter brought back to business in same year what will be tax treatment?

K Srinivas, CMA CS (Expert)
13 September 2017
Till the time it was let out, whatever rent received from such letting out will be taxed under Income from house property.

CA Rashmi Gandhi (Expert)
13 September 2017
Upto the period it is let out it is taxable under head HP & after using same for business , expenses incurred on same is allowed in B&P

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