Tower rent income

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2013 Dear Sir My Clint received Rent from Airtel Tower Compnay, and the company deduct a tds, where should i show the income, as a house rent income , Business Income or Income from Other Sources, Pls help me

Can I deduct standard deduction @ 30%

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

21 July 2013 The annual value of property consisting of any buildings or LANDS appurtenant thereto of which the assessee is the owner is taxable under the head IFHP.
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Roof brings a building into existence.
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A roof can be said as the head of house and such rental Income arising from the head of the house is taxable under the head IFHP.

Read more at: https://www.caclubindia.com/forum/income-from-a-mobile-tower-set-on-the-roof--59687.asp

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Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2013 Can deduct standard deduction @ 30%

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

22 July 2013 Yes - we have to follow the rules. 30% Standard Deduction has to be claimed.
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