11 December 2012
I had purchased a warehouse from a builder who had promised me to finish construction of the warehouse within 1 year & thereafter put it on rent for me either with a third party or with himself.
But he failed to finish construction in the said period of 1 year. but still as per his commitment, he started paying me rent on the said unconstructed property.
Can someone guide me :
whether the rent so received can be disclosed by me as House Property income claiming the 30% deduction OR Should I consider it in any other head of income?
CAclubindia
