Rental income

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B.Com
53 Points Joined June 2013

Hi 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

 

 

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On 12 July 2013 at 12:27 Report
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ACA
1006 Points Joined May 2010
if main business is renting then it is taxable as Business Income and all deductions will be allowed accordingly.
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On 12 July 2013 at 12:58
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Article
172 Points Joined July 2009

It will be treated as income from house property, even though business of assessee is renting out premises.

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On 12 July 2013 at 13:21

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