If a property is under construction and if the assessee has any plot in that property , then whether the
rent received on that particular plot is taxable??
Please help
Thanx in advance
If a property is under construction and if the assessee has any plot in that property , then whether the
rent received on that particular plot is taxable??
Please help
Thanx in advance
Rental income is taxable under House Property Head only in case of Rent from Building and Land appurtenant thereto (ie there must be a building for taxing under HP Head).
Since building is under construction , the same is not taxable under HP Head, but rent on plot is taxable under the head of Other Sourse Income....
agree with above reply
CAclubindia
