Hi,
Rent from building taken on lease
Under which head income to be assessed.
clarify
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Under which head income to be assessed.
Replies (3)
Dear
If lease is taken for 12 or more years then income from H.P
In any other case - Income from other source.
Regards
K.Ilayaraja
House property
Friends Building is taken on lease, & again rent is received from that building, Means its a sub lease executed by a tenant, Under that situation It will be Income from Business & profession, Pls check the Section of considering Income From HP. I am Sure about my answer
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