Composite Rent House property
Vedant Khanna (374 Points)
14 December 2018
What is the concept of Composite Rent under House property?
2 Replies
MOHAMMED IMRAN
(1020 Points)
Replied 14 December 2018
composit rent eg. rent from House property, lift, security guard etc. it is taxable as income from business and professions as per the nature of income
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 15 December 2018
rent recd on account of furniture, and other services related to maintenance of society is termed as composite rent. if the rent recd towards house property and other services is identifiable then from house property shud be shown under that head and the one received towards services shud be shown either as income from other sources or as business income
Else the composite rent shud be shown as a 70:30 ratio.
Else the composite rent shud be shown as a 70:30 ratio.
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