Can any one tell, income from roof which used for setlite tower is taxable in house property or not
11 Replies
Dinesh N
(Article)
(156 Points)
Replied 09 December 2009
Dear friends,
Section 22 states any income to be taxable under house property should satisfy the following three condition
1. The property should consits of any buildings or lands appurtenant thereto
2. The assessee should be owner of the property
3. The property should not be used by the owner for the purpose of any business or profession carried on by him, the profits of which are chargeable to income tax.
In your case non of the conditions are satisfied so the income will not be taxable under section 22
Ansari
(ca final)
(444 Points)
Replied 09 December 2009
| Originally posted by :Dinesh N | ||
| " | Dear friends, Section 22 states any income to be taxable under house property should satisfy the following three condition 1. The property should consits of any buildings or lands appurtenant thereto 2. The assessee should be owner of the property 3. The property should not be used by the owner for the purpose of any business or profession carried on by him, the profits of which are chargeable to income tax. In your case non of the conditions are satisfied so the income will not be taxable under section 22 |
" |
Agree
Hareesh H Sharma
(Cleared IPCC..now article)
(894 Points)
Replied 09 December 2009
Hey Pawan are u talking abt a case where the mobile satellite tower is situated over a persons house??
CA RADHIKA AGARWAL
(CA)
(300 Points)
Replied 09 December 2009
| Originally posted by :Dinesh N | ||
| " | Dear friends, Section 22 states any income to be taxable under house property should satisfy the following three condition 1. The property should consits of any buildings or lands appurtenant thereto 2. The assessee should be owner of the property 3. The property should not be used by the owner for the purpose of any business or profession carried on by him, the profits of which are chargeable to income tax. In your case non of the conditions are satisfied so the income will not be taxable under section 22 |
" |
Dinesh how can u say...all the 3 cnditions r not satisfied in dis case........
i think above 2 cnditns r satisfied bt d last one is not satisfied..
hence .,earng frm satellite towers is not taxable under income frm house prop
Hareesh H Sharma
(Cleared IPCC..now article)
(894 Points)
Replied 09 December 2009
Yup what Radhika said is right..I guess the ques is not fully clear for me..So can u please clarify as to my last post about the same topic..If that is the case will it be taxable as house property income
Rock
(student)
(1518 Points)
Replied 09 December 2009
Dear Pawan As above persons said it is correct it will not come under Income From House Property....
It will come under Income from other sources..because it is composite rent
Prieya
(26 Points)
Replied 09 December 2009
can you tell me wats satlite tower? And is that property your residence??
Pradip Srinivasan
(CA Final)
(869 Points)
Replied 10 December 2009
It wil b charged under income from other sources
C.Balaji
(Learner)
(1867 Points)
Replied 01 January 2010
Yes....it's only other sources income and not house property......agree with dinesh
Amir
(Learner)
(4016 Points)
Replied 01 January 2010
HEY FRIENDS, I FEEL THAT SAID INCOME IS TAXABLE UNDER HEAD HOUSE PROPERTY ONLY..
1) ROCK, CAN U PLZ EXPLAIN HOW IT HAS BECOME A COMPOSITE RENT??
2) DINESH, FROM WHERE HAVE U GOT THE CONDITION THAT PROPERTY SHOULD NOT BE USED BY THE OWNER FOR HIS BUSINESS/ PROFESSION...
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