01 December 2011
A furnished premises let out on on monthly rent basis to a party along with furniture,fixtures etc.for being used as "table space"- under the agreement the assessee is also providing services like ward and watch staff,electricity,water to the occupiers.These services are not seperately charged.hence income derived from L.O.P is treated as income from H.P or Business Profession???? The assessee's business is letting out property
02 December 2011
As said the business of assessee is letting our property , then the income from letting out properties on rental basis will be tax as Income from Business or Profession
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