CA Day celebration 2024 Easy Office
LCI Learning

Rental Income

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
11 August 2010 A property given on rent to the Municipale corporation or local bodies for public utility.

Whether the rental income of that property is exempt form the tax as per the provisions of the Income Tax Act?
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
11 August 2010 Rental income received by Municipal corporation is exempt u/s 10 but not income received from them.

So it will be taxable in ur hands.
Profile Image

CA. Gurdeep Singh Chawla

Profile Image

CA. Gurdeep Singh Chawla (Expert)
11 August 2010 Taxable
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CA. Pradeep Nayak

Profile Image

CA. Pradeep Nayak (Expert)
11 August 2010 Rental income received is always taxable, no matter whether it was let out for public utility or any other purpose.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links