Tower rent income

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