Rent from shop

Trainee (Accounts Executive) (325 Points)

20 April 2014

How to show rent recd from shop given on rent to bank for ATM? Under head income from house property?

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CA Devanand Jethanandani (CA) (8003 Points)
Replied 20 April 2014

Yes, under the head 'House Property'

Mihir (Wealth Manager) (5293 Points)
Replied 21 April 2014

Income from house property.

Income Tax Wala: (Fin. Expert) (Chartered Accountants) (2015 Points)
Replied 21 April 2014

Dear Vikram

Rent must be taxable under the head income from house property and all the benefit of section 24 is available to such income.

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