reg : Lease income
This query is : Resolved
13 March 2008
Dear sir,
If owner of the house property hirring his house for lease how we want to treat as per income tax act ?
If we are in rental house and an assessee is hiring that property for lease how we want to treat as per income tax act ?
If owner of the house property hirring his house for lease how we want to treat as per income tax act ?
If we are in rental house and an assessee is hiring that property for lease how we want to treat as per income tax act ?
13 March 2008
1
13 March 2008
It should be shown under Income from House Property in the first case.
13 March 2008
In the second case, it is called sub letting of house and it may be shown under house property.
13 March 2008
I am not sure in second case.
13 March 2008
the lease amount is received in lumpsum how we can treat that in IT statement
13 March 2008
The sub lease of the house should not be treated as income from house prperty as the owner occupies a house in some other capacity. It should be treated as Income from other sources. -D.R. sunder Raj v. CIT(1979).
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