Assess source of income from a private hospital rent received.
question:
Assess treatment of rental income business income or property income show in I.t. returns.
Is assessee Individual or firm or Company?
If Firm then kindly refer object clause of partnership and if company then refer MOA...
Why to refer??
Because as per section 22 of It, Act 1961...
Income from HP shall be Charged to IFHP only if..
1. He is owner of that HP and
2. HP is not used for Business or Profession..
if above conditions are not satisfied then Income shall be charged to PGBP
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