Income From House Property
This query is : Resolved
CA Chintan Parikh
(Querist)
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
CA Navin Jain
(Expert)
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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taxindiaconnect
(Expert)
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.
CA. Chikkerur C R
(Expert)
04 November 2010
INcome should be treated as Income of House Property unless property is held as "stock in trade"
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