Very urgent......plz help !!

Suraj Agarwal (Self Practitioner in Income Tax & GST)   (782 Points)

01 November 2011  

 

hello friends,
 
Mr. A, who is engaged in the business of trading of building, has a building as stock in trade. Due to absence of any valuable buyer, he let out this building for the rent of Rs.10000 pm. Now this rental income will be taxable under house property or under business head ?? Please quote ur reply with the decided case laws or any other relevant things ??