where to show the rental income received on leasing of p&m,the amount received after deducting TDS @ 2%...........?
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Taxation of rental income
Replies (5)
You have to show it as business income but if you dont carry on business same is to be taxed as income from other sources
If you are into the business of renting out such P&Ms, then under profits & gains from business/profession. If not, then under other sources.
If its a regular source of income, carried on a large scale, show it under PGBP.
Else you can treat is as Income from other sources.
Rent from Leasing of plant and machinery is always advicable to treat as profit and loss under pgbp.
Else you can also show it under other source also.
u can treat this income from business
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