Heads of Income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 May 2010
under which head, we need to tax Rental Income and Common Area Maintenance charges, whether to charge under House property for rental income and Common area maintenance under Business income
12 May 2010
it will be treated as a business income as from your question it seems that you are taking rent for some appartment or some mall. its your business to do it..
If m wrong pls let me knoe
If m wrong pls let me knoe
12 May 2010
if it is come under the head income from house property then there is the standard deduction of 30% and no separate expenses allowed form common area maintenance.......
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