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Asking for accounting details
Sir can you tell me under what what head Flats falls, if we are receiving monthly income from those flats and also expenses taken care by rent owner
Replies (4)
For individuals, flats are investments, & rent received is under income from house property.
Can we prepare individual rental income in tally as he is sole propriter
Yes, sub-ledgers can be formed, under a (new)group "Rental Incomes"
Rent would be shown as an Indirect Income. Flats will be shown as Investments.
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