Please Specify the Heads of Income - Rental income from Telecom TOWER situated at 100% Self occupied House.
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Heads of Income ?
Replies (8)
Income From Other Sources
Income from Other Sources.
refer to a case law: [2000] 244 ITR 1 (CAL.) HIGH COURT OF CALCUTTA Mukherjee Estate (P.) Ltd.vs.Commissioner of Income-tax Y.R. MEENA AND R.K. MAZUMDAR, JJ. IT REFERENCE NO. 220 OF 1993 MARCH 7, 2000
it states that if assessee has an agreement to rent his terrace to the party then it would be income from house property but if he has an agreement to rent haording or build tower then it will be income from other sources. in the referred case assesse has no agreement and therefore even after his claim of 30% SD is allowed by the Commissioner (appeals), ITAT reversed the same and CIT u/s 256 confirms it.Thus it totally depends on the agreement between you Mr. Mishra and the telecom company hope u find me clear. For any queries please feel free to contact me
It should be taxed in head income from other sources
IFOS
income from other sources
| Originally posted by :RITESH KOTHARI | ||
| " | refer to a case law: [2000] 244 ITR 1 (CAL.) HIGH COURT OF CALCUTTA Mukherjee Estate (P.) Ltd.vs.Commissioner of Income-tax Y.R. MEENA AND R.K. MAZUMDAR, JJ. IT REFERENCE NO. 220 OF 1993 MARCH 7, 2000 it states that if assessee has an agreement to rent his terrace to the party then it would be income from house property but if he has an agreement to rent haording or build tower then it will be income from other sources. in the referred case assesse has no agreement and therefore even after his claim of 30% SD is allowed by the Commissioner (appeals), ITAT reversed the same and CIT u/s 256 confirms it.Thus it totally depends on the agreement between you Mr. Mishra and the telecom company hope u find me clear. For any queries please feel free to contact me |
" |
Income from other sources
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