01 March 2008
i am receiving rent from reliance compan y for giving Terrace for fixing antina for network. my doubt is in which head rent include for income tax canculation .
01 March 2008
if terrace forming part of the building ,then the rent should be taxed under income from house property if it is not then it should be taxed under income from other sources. case law: Mukherjee Estate(p) Ltd V CIT [2000]244 ITR1 (Cal) If the hoarding donot form part of the building, then income from putting up such hoarding for advertisement purpose cannot be considered as income form house property.