what should we treat such income
This query is : Resolved
18 July 2008
If a person earns money from a limited co.
inrespective of letting out a house.where such co. runs a commercial activity.
so as per your view assesse should treat it as income from other source U/S 56(1)[which says income from letting out the building] or treat as income under the head of house property.
If a person earns money from a limited co.
inrespective of letting out a house.where such co. runs a commercial activity.
so as per your view assesse should treat it as income from other source U/S 56(1)[which says income from letting out the building] or treat as income under the head of house property.
19 July 2008
Since building alone is let on rent, the income from letting is chargeable as Income from house property.
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