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Income from House Property

This query is : Resolved 
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(Querist)
25 June 2010 Suppose a person has entered into a collaboration agreement with a developer for development of flat. He has made full payment in the initial year and received the allotment letter. As the MOU with the developer, till the time of completion of construction, the developer will pay 12% assured return to him.

Now, the issue is whether such income is income from house property or interest income? The developer has issued TDS certificate as income income (and not as rent). Is it possible to show it as rent and claim 30% deduction?
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
25 June 2010 No it is a interest income.
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