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Bungalow given on rent for 2 days

Tax queries 1006 views 12 replies

If an individual gives his bungalow on rent for 2 days for shooting of an advertisement & receives Rs. 50,000/- as compensation then this income will be chargeable under the head "Income from House Property' or 'Income from Other Sources' ?

Replies (12)
House property

Now one of my colleague is saying that it should be taxable as business income. I am totally confused.

Income from House Property,,,

Income from House property

Chargeable to income from house property.

Definition Is rent or revenue derived from land and land appertan to

@ Ritu Chauhan : Rental income from property should always be taxable u/h "House Property", whether it is the main business or subsidiary to the main business of the assessee or even when it is not a business at all. It is only in case of sub-letting by tenant, income is taxable u/h "Other sources" in tenant's hand as he is not the real owner. Only property income used  for business purpose is taxable u/h "PGBP". Hope ur confusion is cleared now.

Income from house property only

If the intention is to earn rent income then house property otherwise if it was given for rent on request to provide accommodation or for shoot of the film as it was vacant only then other sources. My client gives his bungalow in a hills station on a minimal rent to foreign visitors for 1 day or 2 days so often and we show it as income from other sources. It's not my business to do the same so definitely not gonna come under "PGBP".

Income from house property

Income from house property


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