Query on Rent received

no it is taxable under income from other sources. 

for the owner of the property it is taxable as house property income but if the property has been sub letted by the tenant then for the tenant it is taxable as income from other sources...........

Agree with Rakesh.

Just want to add that it can also be taxable as "PGBP" & one exception -

Sec 27(iib) a person who acquires any rights (excluding any rights by way of a lease from month to month or for a period not exceeding one year) in or with respect to any building or part thereof, by virtue of any such transaction as is referred to in clause (f) of section 269UA, shall be deemed to be the owner of that building or part thereof;

As per Sec 269UA (f) - where property is let out for 12 years or more than it is treated as transfer & in that case tenant shall is treated as owner in terms of sec 27(iib)