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house property

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(Querist)
19 June 2009 Interest paid on Industrial Gala is which is given on rent.
so the income is to be taken in House prop. or Buss. income
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
19 June 2009 Dear Gunjan
if u r doing the business of letting out the houses and houses are "Stock in trade" then such Rent shall be charged under Business Income, in any other case Letting out Gala shall be charged under HP income

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