Krish (CA Final ) (3331 Points)
25 November 2011If there is land appurtenant to a house property (Suppose rooftop of the house is used by the Govt. for establishing tower and behalf of this the Govt. pays 10000 per month to assesse). Should the income arising from it be taxable under Income from HP ?
Deepak Gupta
(CA Student)
(15922 Points)
Replied 25 November 2011
| Originally posted by : Krish | ||
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If there is land appurtenant to a house property (Suppose rooftop of the house is used by the Govt. for establishing tower and behalf of this the Govt. pays 10000 per month to assesse). Should the income arising from it be taxable under Income from HP ? |
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Income from letting out terrace for putting up hoarding and telecom towers will be assessable as income from house property.
Decision of the tribunal in case of
Satyam Shivam Sundaram Cooperative Society Ltd. in ITA No.516 to 514 M/2004
Pinto Park View Cooperative Housing Society Ltd. in ITA Nos.5859-5894/M/2003
Naveen.N
(student)
(1021 Points)
Replied 25 November 2011
Yes it is considered as Income from House property
Rahul Suneja
(CA-Final, CS-Exec)
(215 Points)
Replied 25 November 2011
madinashabana11
(MBA)
(1102 Points)
Replied 25 November 2011
Yes, agree with friends above.........Its Taxable as Income from House Property.
CA. MOHAMMAD.QUSROO
(CA FINAL)
(81 Points)
Replied 25 November 2011
Phalgun
(Audit Manager)
(327 Points)
Replied 25 November 2011
Yes it is taxable under house property. Income from vacant land is taxed under other sources
CA Ankur Yadav
(Practice)
(67 Points)
Replied 25 November 2011
thanks for all suggetions
all are good
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