my client is having a building of three floors, one is used by himself his own business and other two floors are letout for office purpose to a pvt ltd company in which he is one of the director. whether the letout property rental income is to be considered under income from house property and claim regular deductions or the rental income can be taken as business income in his own business and claim interest and repair exp as business exp.
kindly reply immidiatly as the matter is most urgent.
CAclubindia
