Friends,
I have a question in front of me. I want to know whether by any means we can tax Ground Rent Income under the head
"Income From House Property' and not under the Head "Income from Other Sources"? by this one can get benefit of 30% deduction.
Thanking you for showing interest.
Kindly explain what ground rent is?
Regards
Sahana Murthy
If land is appurtenant (is held-connected) with the building then we can do so.
Rent of open plot is not treated as income from house property.
By constructing a large, temporary, cheap shed on the land, I guess.
If you have any construction in the land, you may take the income under the head "income from House Property" IF it is vacant land & rent are being received for letting out the vacant land, then it must be assessed under the head " Income from other sources"
CAclubindia
