income tax

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Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2011 is advertising hoarding income will be taxable as house property or other sources

U S Sharma

U S Sharma (Expert)
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05 July 2011 Income from other sources.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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05 July 2011 If you are doing the business of hoarding and having several sites then the income from hoarding is to be treated as Business Income and not income from other sources.

If you have put up hoarding on your premises which is let out then the income from Hoarding to be treated as House Property Income.

In no case the income from hoarding is to be shown under the INCOME FROM OTHER SOURCES. Further it depends on analyses of each case and circumstances.

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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05 July 2011 i differ from Agarwal ji as Under House Property Income, income from renting of house property or land appurtents is taxed. Hoarding income should be taxed as Income from other sources

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2011 if it is the income from other sources than it is ok. and if it is the income from house property than standard deduction will be allowed or not.

Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2011 if it is the income from other sources than it is ok. and if it is the income from house property than standard deduction will be allowed or not.

Aashok Kumar Sharma

Aashok Kumar Sharma

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31 July 2024 Income from Other Sources: No standard deduction or specific allowances related to house property.
Income from House Property: Standard deduction of 30% of NAV and interest on housing loan deduction are applicable.

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