Dibyendu (Consultant) (162 Points)
04 July 2013Filing ITR2(Salary and Income from renting CAR).
I have attached the schedule OS section. Could you please verify and let me know whether entries are correct for the below details.
GROSS RECEIPT from GOVT OFFICE for renting my CAR = 345608
EXPENSE = 260500
Please note that the office has deducted TDS aunder 194C and issued Form16A
C.A. Jignesh N. Mehta
(C.A.)
(1030 Points)
Replied 04 July 2013
yes you have filled the details properly.
I am not going in the nature of income. Since you have treated the same as other sources.
My query is, is this your business of hiring cars. If yes then you are governed by business income.
Dibyendu
(Consultant)
(162 Points)
Replied 04 July 2013
Thanks for your reply.
For your information, I have provided my CAR to a govt. office. The office considers it as an contract and pays monthly. I guess this could be treated as income form other source right?
Please reply.
Thanks and regrds,
Dibyendu
C.A. Jignesh N. Mehta
(C.A.)
(1030 Points)
Replied 05 July 2013
Renting a car is hiring and is covered by business activity.
However it seems that you have entered into a contract , hence contracts of such nature if made regularly will be business. There may be different views on this. Both treatment seems correct.
So go ahead with filing of return.
CAclubindia
