An assessee is dealing in properties. In which head of income he should report the rental income?
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Income from house property
Replies (6)
If rental the properties is the main business then PGBP otherwise Income From House Property
Rental income in HP
Rental income of a person who deals in property as stick in trade then also income of rent from that property comes under head income from H.P
Stock in trade *
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As per rayala case 2016, any sum received as rental income from properties can be treated in PGBP. And you can also charge Depreciation on such property as per sec 57(ii).
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