Income From House Property
This query is : Resolved
21 October 2010
Dear Expert
Mr X having a factory Building in personal name and giving a renting to Company in which he is director and taking a rent from company kindly gide me a treatment of rent income in hand of X
this is a Income From House Property or Business Income
Mr X having a factory Building in personal name and giving a renting to Company in which he is director and taking a rent from company kindly gide me a treatment of rent income in hand of X
this is a Income From House Property or Business Income
21 October 2010
Income from house property but if u wants to claim expenses more than 30% then u considered as business income
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21 October 2010
It is only an income from house property, you can not treat a rental income as business income unless the buiness model permits you to be in business of rental of property for example an owner of a mall can say that he is in the business of renting.
04 November 2010
INcome should be treated as Income of House Property unless property is held as "stock in trade"
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