12 April 2011
I have taken a vacant land in urban area on rent of Rs.20000 per annum. I have sub let it for Rs.48000 per annum to another person. He uses this land for growing small plants of vegetables and flowers. He sells those plants as well as vegetable and flowers in open market.
Now income earned by me ie Rs.48000-20000=28000 is taxable or not and under which head.
CAclubindia
