Income from other source - car rent

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Filing 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


Attached File : 536170 1196422 doc1.doc downloaded: 129 times
Replies (3)

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.

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

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.


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