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
- About TDS & Income Tax
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- F & O PROFIT REPORTING FOR AY 2026-27
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
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
