Interesting

Shankar (CA) (67 Points)

09 March 2011  

A person has constructed some rooms on the first floor of his self occupied house and is running P.G. accomodation.

He is also incurring some expenditure like food etc.

Is the income chargeable under the head Income from House Property or Business Income????

And what if he had not incurred any expenditure and had derived only rent from it