In case if a property of an Assessee is under reconstruction and if the Assessee receives rent from the builder,
Then is that Rent taxable in the hands of Assessee.
In case if a property of an Assessee is under reconstruction and if the Assessee receives rent from the builder,
Then is that Rent taxable in the hands of Assessee.
AS PER INCOME TAX RENT WOULD BE TAXABLE IN HOUSE PROPERTY IF THE CONSTRUCTION OF THE PROPERTY IS ON THE LAND OWNED BY THE ASSESEE.
CORRECT ME IF I AM WRONG
| Originally posted by : asif khan | ||
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AS PER INCOME TAX RENT WOULD BE TAXABLE IN HOUSE PROPERTY IF THE CONSTRUCTION OF THE PROPERTY IS ON THE LAND OWNED BY THE ASSESEE. CORRECT ME IF I AM WRONG |
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I Accept with Mr. Asif.
And to Mr.Vishal if the property is held by the assessee then the rent is taxable under the head income from HP
Thanks & Regards
Ram.
If a Assessee receives rent for the Tower which has been kept in his house then is that taxable & if taxable can u plz tell me under which Head.
Thanks in Advance
R Shriram
Y not under HP?
Thanks
R Shriram
Thanks
R Shriram
| Originally posted by : subramanya bhagirath k | ||
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Because the part lent out is niether a building nor a land apputunent.... |
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I don’t agree with Mr.Subramanya, because the tower is installed on the building & it is the portion of a building.
As per the IT act any rent received from the building let out on its full or a portion of the said building is taxable under the head income from HP.
If I m wrong please correct me & please post sufficient notification or judgments in this regards.
Thanks
Ram.
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