Very urgent for filing of return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2012 dear sir

I have a land and some structure thereon which i gave on Rent of Rs. 100000/- p.m to Bharat petroleum Corporation Ltd. which in turn allotes to me for running a petrol pump on it.

Now when i filed the return of last year my previous CA taken this income in House Property head and claimed 30% statutory deduction under this head.

But in this year my new CA is calculating this income under the head of other sources saying that this land is used for own business running by the assessee and can't be claimed under the head of house property. Is It true ?

He is saying that the 30% deduction claimed by me in the last year is also wrong.

Sir plz response me as early as possible becuase i have to file my ITR..

with regards

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 July 2012 Yes. your CA is right. Income from house property which comes only the houses constructed only. U/s.22. its building or land appurtenant (land attached with building) so simply renting land will not cover under House property income., it is income from other sources only.so taken 30% deduction also wrong