Rent or interest income or what?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 November 2013
Dear Sirs,
I have booked an under construction commercial property with assured returns of 12.5 % per annum in 2012-13 FY. How should I treat this assured return(minus TDS) ? Rent from commercial property or Fixed Deposit interest or interest from company deposit or What? PLEASE GUIDE ME.
Thanks in advance
I have booked an under construction commercial property with assured returns of 12.5 % per annum in 2012-13 FY. How should I treat this assured return(minus TDS) ? Rent from commercial property or Fixed Deposit interest or interest from company deposit or What? PLEASE GUIDE ME.
Thanks in advance
CA Pallav Singhania
(Expert)
03 November 2013
As you are not letting out any property on rent..
You should treat such income under Income from other Source....
You should treat such income under Income from other Source....
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