Income under the head house property

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deepak kumar srivastava (Querist)
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16 January 2016 X let out his property to Y. Y sublets it. How is sub-letting receipt to be assessed in the hands of Y.

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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16 January 2016 For assessing under the head Income from House Property, as per Section 22 the assessee should be owner of the property. In case of sub-letting the property though the tenant (assessee) earns rental income but he can not be said to be the owner of the property.
There being no other suitable head, sub-letting income is assessed in the residual head of Income from Other Sources.

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