kavitha (B.Com) (53 Points)
12 July 2013Hi All,
Does rental income of a corporate asessee treated as Business income if the main business of asessee is renting out premises ? or does it comes under the headIncome from House Property ? Also what will be the treatment of Municipal Tax ? is that an Allowed Expense ?
Thanks in Advance
CA. Kunal Lakhotia
(ACA)
(1006 Points)
Replied 12 July 2013
Ishan kewlani
(Article)
(172 Points)
Replied 12 July 2013
It will be treated as income from house property, even though business of assessee is renting out premises.
CAclubindia
