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Rent recieved is traeted business income or house property i

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Guest

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Guest (Querist)
01 August 2011 we are a partnership firm and our income from rent recieved (House & Shopes).Can we claimed salary and other exp for collection of rent or it treated income from house property and deduction will be allowed only 30% and municipal taxes .
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
02 August 2011 If the partnership firm is the owner of house property then the rent income will be computed under 'Income from House Property' only.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
02 August 2011 I agree with the expert
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