Income from house property

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brij bhushan gupta (Querist)
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25 April 2014 sir i am doing private practice in my own comercial building . i give one shop to cmemist and one to lab on rent in my premises . this rental income comes under house property or under business income. can i avail 30% exemption under section 22 house property

Sandeep Dharar

Sandeep Dharar (Expert)
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25 April 2014 I suggest u to book it under House Property, coz u r doing practice, hence the income earned from ur practice will b treated as ur Business income and Rental income will go to House property.

U can claim 30% as standard deduction u/s 24(a).

brij bhushan gupta

brij bhushan gupta (Querist)
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27 April 2014 sir, can i claim depriciation on my own building in which i am doing practice and how

Sandeep Dharar

Sandeep Dharar (Expert)
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28 April 2014 Yes u can claim Depreciation as per the rates mentioned by IT Act

brij bhushan gupta

brij bhushan gupta (Querist)
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16 June 2014 thanks for proper guidance

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