dear friends,
can we take the rental income received from a building let out for commercial purpose , (not for residential purpose) under income from house property.
Basavaraja.k (Proprietor) (54 Points)
25 October 2011dear friends,
can we take the rental income received from a building let out for commercial purpose , (not for residential purpose) under income from house property.
Sagar Devani
(Corporate and International Taxation)
(1174 Points)
Replied 25 October 2011
no...any rental income recieved from leting out building (wether for residential or commercial purpose) is to be taken while computing income from house property
Rahul Suneja
(CA-Final, CS-Exec)
(215 Points)
Replied 25 October 2011
Yes it will be taxable u/h house property
Swapnil Jain
(Finance - FP&A)
(564 Points)
Replied 25 October 2011
CA Pabbaraju Laxmi Narasimha
(Chartered Accountant)
(305 Points)
Replied 26 October 2011
According to Sec22 of the Income tax act,1961 the income from the house property is chargeable when the
BUILDING and land appurtnent thereto, in the previous years..
The building may be Commercial or Residential. however the building should not be used for the purpose of the business or profession of the assessee.
Regards.
Laxmi narasimha
CA Hardik Bunha
(self)
(2121 Points)
Replied 26 October 2011
CA Mukul Mittal
(CA in practice)
(384 Points)
Replied 06 November 2011
every property is covered Under Income from House Porperty.......
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