Rent income vs business income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2011 i) rent received by letting business premises under Leave and licence agreement and

ii)hire charges received by providing amenities and infrastructural facility

both the above income is taxed under

a) business income and partners remuneration is calculated?

b) House property income and deduction u/s 24 is allowable?

Yogesh Agarwal

Yogesh Agarwal (Expert)
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31 December 2011 Please make the question bit clear...

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2012 sorry,
The assessee has received Rent by letting business premises under leave and licence agreement

The assessee has received hire charges by letting the furniture and fixture and other amenities of infrastructural services.

Now the question is

Whether rent is taxable as business income or "Income from House Property"

Whether partners remuneration is calculated on rental income

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