02 July 2009
Dear Santosh, Show this rental income as income from other sources you can claim the deduction regarding maintenance and revenue expenditure related to your rental income. Alternatively it can be booked under the head income from house property. in that case you can claim 30% deduction towards repairs from the rent received .
02 July 2009
It would be either Income from Business or Profession or Income from other sources but in any case it would not be taxable under Income from house property.
CAclubindia
