Renting of residential property

This query is : Resolved

tapas sharma (Querist)
Follow

06 August 2014 DEAR EXPERT,IF SOME ONE TAKES A RESIDENTIAL HOUSES ON RENT AND THEN AGAIN RENT THE SAME FURTHER FOR RESIDENTIAL PURPOSE.SO IN WHICH SERVICES IT IS INCLUDED AND IS IT TAXABLE,THEN ON WHICH AMOUNT & AT WHAT RATE????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

06 August 2014 tds is deductible u/s 194I and for rate can refer this link :
https://blog.tdsman.com/2014/08/tds-tcs-rates-chart-for-fy-2014-15/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+Tdsman+%28TDSMAN%29

Rupesh Jain

Rupesh Jain (Expert)
Follow

06 August 2014 it is taxable under the income from other sources. due to you ar not the owner of the house.

Message likes : 1 times

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

06 August 2014 no subletting is also charged as income from house property.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

07 August 2014 dear experts, isn't the question regarding service tax!!!

With regards to the original query, if the sub-letting is for commercial purposes, then it will be covered under service tax under "renting of immovable property"

with regards to conflict of opinion, Tushar is correct as per case law Smarts (P.) Ltd. v. CIT [2008] 166 Taxman 53 (Delhi).

But for that conditions prescribed under section 27(iiib) should be satisfied.

Otherwise such income shall be taxed as Income from other sources or income from business/profession depending on the facts of the case.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

bhavesh

Srikanthan S

rana andcompany

Pranab Banerjee

Gurunathan kannan

Subscribe Now

Renting of residential property

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Senior Executive

Manager- Finance and Compliance