Income from house property or income from other sources - If ...

Income Tax

June 4, 2021

Income from house property or income from other sources - If they are inseparable and the intention is to carry on the business of letting out the commercial property and carrying out complex commercial activity and getting rental income therefrom, then such a rental income falls under the heading of "Profits and gains of business or profession". In fact, any other interpretation would defeat the very object of introduction of section 80-IA as well as the scheme which is framed by the Government for development of industrial parks in the country.- HC

View Source

← Previous Next →

Income from house property or income from other sources - If ...

Income Tax

June 4, 2021

You may also like:

Rent received - whether the letting is a composite or inseparable letting - Income to be taxed under the head Income from other sources - HC

Letting out of the terrace erection of antenna and income derived from letting out has to be taxed as “income from house property” and not as “income from other sources’ - AT

Rental receipts from letting out commercial properties is assessable under the head income from profits & gains of business or profession and not as income from house property - AT

Deduction u/s 80IA - Industrial park - Nature of Income from renting - If they are inseparable and the intention is to carry on the business of letting out the...

Deduction u/s 80IA - Rental income - letting out of Industrial park buildings - Income from House Property or of business income - AT

Charge to income tax in respect of a house property - deemed income - The words “where the property is let” in sections 23(1)(b) and 23(1)(c), thus, represents a state...

Income from house property - annual letting value of unsold flats - Estimating rental income by the AO for these three flats as income from house property was not...

Rental income from letting out of the factory building - Profits and gains of business or profession OR Income from Other Sources - the intention of the assessee was to...

Computation of annual value of the property let out to the assessee’s sister concern - otional interest on security deposit is to be treated as income from house property - AT

Computation of income from House property - in case of the properties not let out ALV had to be based on standard rent - AT

Quick Updates: