If a farm house is let out for party purposes, then is it liable for tax under the head income from House Property?
Mihir Manohar (CA Final - Article Assistant) (474 Points)
25 August 2012If a farm house is let out for party purposes, then is it liable for tax under the head income from House Property?
ranjithsingh
(Chartered Accountant)
(153 Points)
Replied 25 August 2012
As per section 2(1A) Explanation 2, if the farm house is used for the purpose other than agriculture,it will be taxable.
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