Head of income
vijendra (article trainee) (229 Points)
10 May 2016
rental income frm comml. complex shall be treated as business income or income from house property
Harshad Kanekar
(Taxation and Accounts Executive)
(314 Points)
Replied 10 May 2016
Vijendra,
As per provisions of Income Tax, House property consists of any building or land appurtenant thereto of which the assessee is the owner. Hence Income from Property whether Commercial complex or Residential is charged under Income from House Property.
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