Income of huf from rent from mixture machine& rickshaw van

This query is : Resolved 

05 April 2015 I had purchase 2nd hand mixture machine and rickshaw van in my huf and the same has being let out for rented..pl let me know the assess of rented under which head and also confirm the same income is income of the hug or not

05 April 2015 Rental Income shall be classified as Income from Business/Profession if letting out of vehicles is your business. You may claim deductions of expenses in relation to the vehicles against the said income from letting out of vehicles.

05 April 2015 Rental Income shall be classified as Income from Business/Profession if letting out of vehicles is your business. You may claim deductions of expenses in relation to the vehicles against the said income from letting out of vehicles. Also if the vehicles were purchased from funds of HUF then it shall form part of income from HUF.


05 April 2015 I agree with what joshi has stated.



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