30 September 2011
CASE : ONE OF OUR CLIENT IS A PARTNERSHIP FIRM WHICH HAS DISCONTINUED ITS BUSINESS BEFORE 3 YEARS BUT STILL HAS NOT DISOLVED THE FIRM. NOW THE FIRM IS HAVING ONE HOUSE PROPERTY WHICH IT HAS GIVEN ON RENT AND IT GENERATES RENT INCOME.
MY QUESTION IS WHERE THIS INCOME SHOULD BE SHOWN 1) IN HOUSE PROPERTY OR 2) BUSINESS INCOME OR 3) OTHER SOURCES?
CAclubindia
