An assessee having rental income by way of letting out shops in a commercial complex earned 100000 Rs. Interest on building advance deposit in a year. My query is regarding the nature of interest earned as it is incidental to such property letting out. Is it to be classified as business income or other source?
| Originally posted by : JATINDER KUMAR | ||
 |
Other sources |  |
Can you please explain in detail...!?
What is the nature of business activity of the assessee? If the assessee is in the business of letting out of property then it can be considered as Business income. Otherwise it has to be consdered as Other Sourse Income.
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
Karia Overseas
Ahmedabad
CA
View Details
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
Open Co Consulting LLP
New Delhi
B.Com
View Details
CAclubindia
