An assessee is dealing in properties. In which head of income he should report the rental income?
6 Replies
CA Prashak Kumar Goyal
(Pratice)
(192 Points)
Replied 20 November 2017
If rental the properties is the main business then PGBP otherwise Income From House Property
Rahul Chhabadia
(168 Points)
Replied 20 November 2017
Rental income of a person who deals in property as stick in trade then also income of rent from that property comes under head income from H.P
Sankalp Jain
(39 Points)
Replied 21 November 2017
As per rayala case 2016, any sum received as rental income from properties can be treated in PGBP. And you can also charge Depreciation on such property as per sec 57(ii).
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