Mr.A ,a salaried person, resides in a rented house and avails the benefit of HRA u/s 10(13A). He owns one plot in other city and lets this plot to Mr.B for doing his business. Mr.A receives Rs.20000/- p.m.as rent from Mr.B. What is the tax implication of the proceedings received in the hands of Mr.A ?
1 Replies
ish kumar sharma
(Sr. Manager Accounts & Finance)
(301 Points)
Replied 24 August 2015
Fist of all plot of land should not be considered as house property and hence the income earned from leting the plot is not a house property income , he must show the income under the head "other sources" and yes he can avail the benifit of HRA as he doesnt own any residential property where he is working. He must fill ITR 1 and normal slab will be applicable on him.
Thanks and regrads
Recent Topics
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Nznxnc call me at the end of the day of the
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
Related Threads
CAclubindia
