Mr.Ajay took a property on rent @ 12000 per month.He sublet 1/4th of the house for a rent of ₹5000 per month.Taxable income from other sources will be?
Please give proper explanation
Rs. 2000/- PM
4 Replies
Kapadia Pravin
(17264 Points)
Replied 31 October 2019
Taxable income from other sources will be Nil if you and that other person pay seperately to Property owner or you collect 5000/- from sub-let person and pay 12000 to owner.
As a tenant you cannot enter into any agreement with sub-let person. it's just on mutual understanding within owner's okk.
As a tenant you cannot enter into any agreement with sub-let person. it's just on mutual understanding within owner's okk.
Zill Gogri
(16 Points)
Replied 31 October 2019
Ok if its just on mutual understanding also,though I want that amount(with calculations) if the above case occurs what will be the income of Mr.Ajay from subletting 1/4 part.....
Kapadia Pravin
(17264 Points)
Replied 31 October 2019
@ Zill
it will be income from other sources Rs 60000/- . This is what you will be suo moto considering.
it will be income from other sources Rs 60000/- . This is what you will be suo moto considering.
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