Tax

AS PER INCOME TAX RENT WOULD BE TAXABLE IN HOUSE PROPERTY IF THE CONSTRUCTION OF THE PROPERTY IS ON THE LAND OWNED BY THE ASSESEE.

CORRECT ME IF I AM WRONG

Originally posted by : asif khan
	AS PER INCOME TAX RENT WOULD BE TAXABLE IN HOUSE PROPERTY IF THE CONSTRUCTION OF THE PROPERTY IS ON THE LAND OWNED BY THE ASSESEE. CORRECT ME IF I AM WRONG

I Accept with Mr. Asif.

And to Mr.Vishal if the property is held by the assessee then the rent is taxable under the head income from HP

Thanks & Regards

Ram.

If a Assessee receives rent for the Tower which has been kept in his house then is that taxable & if taxable can u plz tell me under which Head.

Thanks in Advance

R Shriram

The rent received for the tower can be computed under the head " income from other sources"....

Y not under HP?

Thanks

R Shriram

Because the part lent out is niether a building nor a land apputunent....

Thanks

R Shriram

Originally posted by : subramanya bhagirath k
	Because the part lent out is niether a building nor a land apputunent....

I don’t agree with Mr.Subramanya, because the tower is installed on the building & it is the portion of a building.

As per the IT act any rent received from the building let out on its full or a portion of the said building is taxable under the head income from HP.

If I m wrong please correct me & please post sufficient notification or judgments in this regards.

Thanks

Ram.