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Income from business or commercial property

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(Querist)
29 July 2010 Is income from letting out property to business/commercial purposes come under 'income from business'. If yes, which ITR should the assessee use?
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
29 July 2010 IF THE PERSON WHO HAS LET OUT ,HAVING BUSINSES OF LETTING OF PROPERTY, THEN IT WILL BE UNDER INCOME FROM BUSINESS. THEN ITR 4

IF HE HAS LET OUT IN NORMAL COURSE, THEN IT WILL BE COME IN INCOME FROM OTHER SOURCE. ITR 2 .
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