Mr.Ajay took a property on rent @ 12000 per month.He sublet 1/4th of the house for a rent of ₹5000 per month.Taxable income from other sources will be?
Please give proper explanation
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Income from other source
Replies (4)
Rs. 2000/- PM
Taxable income from other sources will be Nil if you and that other person pay seperately to Property owner or you collect 5000/- from sub-let person and pay 12000 to owner.
As a tenant you cannot enter into any agreement with sub-let person. it's just on mutual understanding within owner's okk.
As a tenant you cannot enter into any agreement with sub-let person. it's just on mutual understanding within owner's okk.
Ok if its just on mutual understanding also,though I want that amount(with calculations) if the above case occurs what will be the income of Mr.Ajay from subletting 1/4 part.....
@ Zill
it will be income from other sources Rs 60000/- . This is what you will be suo moto considering.
it will be income from other sources Rs 60000/- . This is what you will be suo moto considering.
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