Rent income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2012 Income from rent received from taxi will be taxable under ??

CA Hardik Bunha (Expert)
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28 July 2012 It is taxable under INCOME FROM BUSINESS AND PROFESSION.

It can be treated under presumptive tax scheme u/s 44AD.

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2012 but i thought it will be income from other sources. because rent received from any asset will be treated as income from other sources

SANYAM ARORA (Expert)
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28 July 2012 It will be taxable under B/P if related to business otherwise Other Sources

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