Income from house property or business income

Tax queries 399 views 1 replies

Dear all,

I would like to know which is the better way to disclose the income from a commercial property (under a mortgage loan) i.e. under house property or profession/business. Please let me know in detail with reasons and also by considering the provisions of Wealth Tax............. 

Replies (1)

dear all!

i and my wife had a jointggly owned house wehich was sold for wpyrofit in 'may12.

my wtifeis a puoensioner.

should the entire amount -eoif sale proceeds be / shown for computation  of tax?


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