Most urgency..............

This query is : Resolved

ankit kapur (Querist)
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26 August 2011 sir,
our client is having company of manufacturing gift products...we are having some vacant land avaiable and we give the land on rent and generating rental income.Now this rental income should be taken in my p&l or deemed as
house property income.....plse guide us@@

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 August 2011 1)If it is a temporary affair, income may be offered under the head 'income from business'.
2) If letting out is permanent affair, income falls under the head'income from other sources'.

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