Income from House Property
This query is : Resolved
24 July 2011
Whether Income from running hostel is treated as income from house property or income from business? Please provide justification or case laws also in support of answer.
Thanks
Thanks
24 July 2011
Income from house property is when you rent out the property and take no extra burden.
In case of a hostel, the owner not only provides accomodation but gives various other facilities also like food, electricity, servants etc. So in such a case, the same shall be treated as a Business Income.
In case of a hostel, the owner not only provides accomodation but gives various other facilities also like food, electricity, servants etc. So in such a case, the same shall be treated as a Business Income.
25 July 2011
The expert is correct
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Transporter Declaration form
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
