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IF House property

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 September 2010 sir,
i have audited the accounts of pvt ltd co.co only received rental income from tenant rs 500000.its main object to sell & purchase property.
my ques is is it taxable under hp or pgbp?
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Shudhanshu Agrawal

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Shudhanshu Agrawal (Expert)
15 September 2010 As per Section 22 of Income Tax Act, 1961 it shall be considered in HP.
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
15 September 2010 Agreed with Sudhanshu.
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