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Rent income

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 July 2012 Income from rent received from taxi will be taxable under ??
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
28 July 2012 It is taxable under INCOME FROM BUSINESS AND PROFESSION.

It can be treated under presumptive tax scheme u/s 44AD.
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 July 2012 but i thought it will be income from other sources. because rent received from any asset will be treated as income from other sources
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SANYAM ARORA

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SANYAM ARORA (Expert)
28 July 2012 It will be taxable under B/P if related to business otherwise Other Sources
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