Regarding Rental Income
This query is : Resolved
31 August 2010
Sir
We are in Manufacturing Business, for the purpose of Business we take a building on "RENT",
and a small part of such Building WE let out to someone else i.e sublet out and received the rent.
The rent which we paid is illegible as expenditure u/s 30
I am confused about the rent which we received.
The rent which we received whether it covered under PGBP/ HP or Income from other Source.
For HP :As per Sec 22, the asses see must be owner of the Building. which we are Not.
For PGBP : Its not our Business
Remain Other Source.
Please explain me under which section it will be charged.
Please give any Case ref. if possible.
We are in Manufacturing Business, for the purpose of Business we take a building on "RENT",
and a small part of such Building WE let out to someone else i.e sublet out and received the rent.
The rent which we paid is illegible as expenditure u/s 30
I am confused about the rent which we received.
The rent which we received whether it covered under PGBP/ HP or Income from other Source.
For HP :As per Sec 22, the asses see must be owner of the Building. which we are Not.
For PGBP : Its not our Business
Remain Other Source.
Please explain me under which section it will be charged.
Please give any Case ref. if possible.
31 August 2010
Rent earned from sub-letting of your property would be chargeable under the head " Income from Other Sources"
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