a guest house owner has received rent from a guest .
he will be liable to tax under which head???
Menu
hp Or pgbp
Replies (2)
It will be taxable as PGBP as he is carrying a business or profession of running a guest house in that building...
Hi Sumit
Good Question Dear
Best of Luck For ur professional studies.
Look "a guest house owner" it means that owner has already a house in which he resides , it means he has two house . As per income tax , if u have two house then u have option to declare one house as self occupied and another is deemed to be rented
In above case he just simply OR actually given SPARE house on rent so this will be taxable under house property.
If any doubt mail me sorabh.gupta @ ambujacement.com
Recent Topics :
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
- Difference between AIS and 26AS data.
Related Topics :
CAclubindia
