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House property

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(Querist)
02 July 2013 If the assessee carries out a BUSINESS of letting out properties, is the income earned therefrom taxed under house porperty ? If so, when the assessee incures expenditure on advertising his property to find a good tenent, is this expense allowable under house property?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
02 July 2013 Yes. it is taxable under house property income and no other expenses are allowed other than repairs & maintenance 25% & Interest u/s.24

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