31 August 2010
Dear All, One Company is under the process of Acquiring Property, During this process one of the flat acquired by the co. is "letout" & Earns the rental income from that flat
Now Question under consideration is that the income earned needs to be Taxable under Income from House Property Or Income From Buisness & Profession Or Other Sources
31 August 2010
The Flat Purchased by the company is the " Investment Property" as mentioned in AS 13. The Income earned is to be Taxed under the Head Income from House Property
CAclubindia
