24 December 2010
A is owner of house property at Bhopal & is working with a PSU at Bhopal. A has entered into a lease agreement with the Co(Employer) for his house property for lease rent of Rs. 25000/- pm & give it to A(employee) for his residence. My Qn is whether the income is taxable in the hands of A as income from House Propert or as income from other source. Is there any impact on the answer by taking the effect of case law D.R Sunder Raj V CIT
24 December 2010
The Property is House. & Same Chargeable Under HP Head.Provided Lease period is Minimum 12 Years.
Here if Company Directly Take This House Property & Given to Its Employee.Then it Considered to be Business income as Same Given For Business Benefit held in That Case.
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