House property vs business income

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17 Points Posted on 07 September 2020
Mr A gives his building on rent to hospital so rent income received should be consider house property or under PGBP
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On 07 September 2020 at 21:31 Report
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This discussion clarifies whether rental income from a building let out to a hospital is considered income from house property or business income. Generally, it falls under house property. However, if the assessee's primary business is letting out property and they have no other income sources, it can be classified as business income under PGBP.

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CA
316 Points Posted on 07 September 2020
By default it will be Incone from House Property but if in case it is only business of assessee to letout property and no other income source is there then it will be Business Income
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On 07 September 2020 at 22:02
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Tax and Business Consultant
11616 Points Posted on 08 September 2020
Yes, it's fall under Income from house Property only.
But if it's business of asssess to let out property than it's fall under Business income.
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On 08 September 2020 at 09:15

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