Kaushal (PROPERIETOR) (52 Points)
20 November 2010Friends,
I have a question in front of me. I want to know whether by any means we can tax Ground Rent Income under the head
"Income From House Property' and not under the Head "Income from Other Sources"? by this one can get benefit of 30% deduction.
Thanking you for showing interest.
sahana Murthy
(Student)
(123 Points)
Replied 20 November 2010
Kindly explain what ground rent is?
Regards
Sahana Murthy
CA PARAS BAFNA
(Practising CA )
(33428 Points)
Replied 22 November 2010
If land is appurtenant (is held-connected) with the building then we can do so.
Rent of open plot is not treated as income from house property.
Nish Agr
(-)
(107 Points)
Replied 23 November 2010
By constructing a large, temporary, cheap shed on the land, I guess.
CA.Madhusudan B.P.
(Chartered Accountant)
(1157 Points)
Replied 23 November 2010
If you have any construction in the land, you may take the income under the head "income from House Property" IF it is vacant land & rent are being received for letting out the vacant land, then it must be assessed under the head " Income from other sources"
CAclubindia
