07 January 2014
I have a leased property on which I am paying a rent of Rs. 5000/- However I am not using the property and have sub-let the property. I am getting Rs. 11000/- from the rental income. How do i file it in my IT? Under what head do I show the income? What is the amount for which I should file IT, i.e., for Rs. 11000/- or Rs. 6000/- (11-5)k.? Please advice.
08 January 2014
Income from sublet will be taxed under Income from Other sources u/s.56(1). the actual rent paid to house owner can be claimed related expenses
11 January 2014
I have got a letter from the ITO of my Ward, Kolkata stating that there is some error in the IT i have filed. I had put the income as "Income from other sources". I am not sure what changes I need to make?
CAclubindia
