Rental Income
This query is : Resolved
07 July 2011
Rental receipts from commerical complex used for the purposes of departmental store. The same receipts has been paid after deducted TDS U/s.194-I. I would like know whether rental receipts taxed under income from property or income from business ?. Please let me know such discrepancies regarding.
17 July 2011
yes. it is income from house property because
The annual value of property, consisting of any buildings or lands appurtenant thereto of which the assessee is the owner, other than such portions of such property as he may occupy for the purposes of any business or profession carried on by him, the profits of which are chargeable to income tax, shall be chargeable to income tax under the head "Income from House Property".
It is income from house property
The annual value of property, consisting of any buildings or lands appurtenant thereto of which the assessee is the owner, other than such portions of such property as he may occupy for the purposes of any business or profession carried on by him, the profits of which are chargeable to income tax, shall be chargeable to income tax under the head "Income from House Property".
It is income from house property
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