Hi All,
Pls tell me whether a building is essential for assessing the income from house property.? I mean if we receive rental income from a godown, then under which head will that be taxable.?
Puja Modi (CS Qualified & CA Final Student) (48 Points)
29 June 2009Hi All,
Pls tell me whether a building is essential for assessing the income from house property.? I mean if we receive rental income from a godown, then under which head will that be taxable.?
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 29 June 2009
Hi Puja,
As per the publication by Income Tax Dept. on "Income from House Property" - Income from letting out of Godown is taxable under the head "INCOME FROM HOUSE PROPERTY".
For reference you can see following link --
https://www.incometaxindia.gov.in/publications/5_House_Property/5_House_Property.asp
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