Rent income

if out of block of asset assessee has let out part of it whether the same can be treated as rental income

Replies (1)

As per Income tax act, To be taxable under the head "Income from House Property", Assessee should be owner of House property and assessee should not use the property for his business purpose. In you case as you said, It is out of Block of asset and i think you have provided depreciation too. For an Assessee carrying Business, if any asset is let out for Temporary purpose, it is taxable in the hands of Assessee as Business income and if let out with an Intention not to use in the business, it is taxable either under the head Income from other sources or Income from  House property. In your case if it is for permenant basis then Tax it as Rental Income but you should not provide depreciation till date.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 14 November 2026
Articleship Assistant

B Thejas and Associates

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 14 November 2026
Article Assistant

Jitendra Agarwal & Associates

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
12 November 2026
Tax Product Specialist

BharatX.ai

Gurgaon

B.Com

View Details