Treatment of Income from renting the immovable property
This query is : Resolved
20 April 2009
Hello Sirs,
Can somebody clarify me on the treatment of the rent received by letting a building by an Public limited company viz., whether the amount is to be shown as business income or should it be treated as Income from House property ? in the company annual IT returns. The related rule position may please be provided.
Can somebody clarify me on the treatment of the rent received by letting a building by an Public limited company viz., whether the amount is to be shown as business income or should it be treated as Income from House property ? in the company annual IT returns. The related rule position may please be provided.
20 April 2009
any rent recived by owner of a house property from letting it out (for any purpose viz. residential or commercial)shall be taxable as income from House property
so the rent shall be taxable as Income from House property, provided u r owner of the property
so the rent shall be taxable as Income from House property, provided u r owner of the property
21 April 2009
Dear shyamsunder,
Decision whether rent income will covered in business income or in houseproperty income will depand on nature and objective of company business for which company registered. if company business is providing premises on rent to people, it will covered under business income.any other case it will covered under houseproperty income.income tax return will reflect accordingly.
Decision whether rent income will covered in business income or in houseproperty income will depand on nature and objective of company business for which company registered. if company business is providing premises on rent to people, it will covered under business income.any other case it will covered under houseproperty income.income tax return will reflect accordingly.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- Is any professional CA is here please reply
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Gift Received from nonblood relative
- EPF FULL & FINAL RULES IN 2026
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Section 50-fixed asset-->building ceases to exist
- Fixe term employment
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
