Income from guest house and factory building

726 views 5 replies

Hello Experts,

I have two Queries. So please provide me proper solution.

1. Suppose i have factory building which is let out for business purpose. So the question is whether rent income is taxable under Business Income or taxable as Income from House Property?

 

2. Further suppose i have guest house which is let out for commercial purpose. So whether such rent is taxable as business income or taxable as Income from house property?

Replies (5)
Rental Income of factory building is chargeable under Income from other source. However Income from guest house is charged under business and profession...

Rental income from factory will be charged under Income from house property

in my opinion, both incomes will be charged under house property bcoz sec. 22 reads any building and land appurtenant there to and not as residential property
correct me if I'm wrong
Yes. I agreed with Mr Rama Krishnan.,
Both income ll be charged under House property.
me too agree with both under house property

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