Is rental income of an assessee who is involved in the business of letting out properties PGBP?
Will the rental income be IFHP if property is held as stock in trade?
Plz explain the difference and reasons for the answer.
yes, rental income of an assessee who is involved in the business of letting out properties is chargeable to tax under the head PGBP
yes, rental income from House property, which is held as stock in trade is taxable under the head "income from House property "
-it is taxable as per the provisions of income tax (there is no specific reason or logic)
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