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Income from other source

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16 Points Posted on 31 October 2019
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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On 31 October 2019 at 11:34 Report
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388 Points Posted on 31 October 2019

Rs. 2000/- PM

 

2 Reply
On 31 October 2019 at 13:17
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17264 Points Posted on 31 October 2019
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.
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On 31 October 2019 at 13:45
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16 Points Posted on 31 October 2019
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.....
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On 31 October 2019 at 20:21
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17264 Points Posted on 31 October 2019
@ Zill
it will be income from other sources Rs 60000/- . This is what you will be suo moto considering.
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On 31 October 2019 at 21:49


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