Income computation

Tax planning 1662 views 10 replies

A person working as professional in a hotel and having 4 houses should file return under head PGBP.

Income from these four houses which is registered under the same person can be shown in PGBP and not calculated u/h HP is correct method of calculation?

 

 

Replies (10)

No Juhi, Income from Hoses in no case can be shown u/d the head PGBP.

It has to be under Incoeme from HP only.

 

Regards

If such professional is reciving rent den it should be shown under the head Income form House property and not PGFBP.yes

yup tushar and pritam is absoluetely right..!!!!!

Income will be taxable under the head HOUSE PROPERTY

Receiving rent from house owned by person is not covered under the head PGBP.

 

Normal ITR 1 or SARAL form will be filled

 

If a person working in the hotel as a professional (i.e not an employee), he has to shown his income under the head PGBP which amount recd from hotel... or if the same person get an salary (i.e an employee) he show the same under Salary head,,, and rent should be shown seperately under the head House property irrespective of the above case,,

The rent should be shown under income from house property.. Even if he is staying in one house and rest  are vacant , the rest will be deemed to be let out..

Rental Income will be taxable in the head house property and can file return in saral form.

Rental Income is always to be taxed under the head INCOME FROM HOUSE PROPERTY

Rental income should be shown u/h income from house property.

 

if the assessee receive/receivable rent from such houses then should be taxed under the head of House Property irrespective of the assessee is working as professional in a hotel i.e. there is no connection between his profession & houses 


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