Taxability of rental income from letting car on hire

Accountant (-) (54 Points)

05 August 2012  

 

I am a salaried employee and purchased a car. Although I am using this car for personal purpose but I have also earned rental income from letting of car on hire.

 

 

 

Please clarify whether the income from car rentals be treated as "Income from other sources" or"Business Income"?