Tds on rent

This query is : Resolved

rahul gupta (Querist)
Follow

08 May 2014 hi.i am rahul.
I provided bank with a vehicle, on rent. Total rental for the year comes out to be around 8 lakh. Bank deducted my TDS @ 2%. now i want to know under which head i will show this income and what will be the proper way to show in books
i don't maintain books of account.

rgds

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

08 May 2014 If letting out of vehicle is your occupation, show the income under 'profit and gains of business or profession'.
If it is a temporary affair and an isolated transaction, income can be offered under the head 'income from other sources'.