One of my Client has Shop Rental Income he want to show income U/S 44AD is it good or not?
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Rent from shop
Replies (5)
Rental income is assessed under head Income from HP........... and not from PGBP.......
Section 44AD is applicable for income from PGBP....... !!!!!!!!!!!!
Sir if we treat as it business income as client has no other income except income from other sources i.e. FD Interest
Will be wrong to treat the same as business income
But it's main source is shop rent
That's why it will come under income from house property
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