House property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 February 2013
Dear Friends,
A Person bought a piece of land on which a small half shade for keeping goods are built. He put the land and the shade on rent for Rs. 175000 a year. He offered the rent as income from house property and claimed 30% deduction for repair.Is correct??
A. Yes
B. No
A Person bought a piece of land on which a small half shade for keeping goods are built. He put the land and the shade on rent for Rs. 175000 a year. He offered the rent as income from house property and claimed 30% deduction for repair.Is correct??
A. Yes
B. No
28 February 2013
Yes.
Though there is no straight answer to this. But the term "Building" defined by income tax also includes "Warehouses". hennce, it should be considered under the head income from hose property provided that "shade" is not temporary in nature.
Requesting others for the openion.
Yes.
Though there is no straight answer to this. But the term "Building" defined by income tax also includes "Warehouses". hennce, it should be considered under the head income from hose property provided that "shade" is not temporary in nature.
Requesting others for the openion.
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