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Hp
Direct Taxation
In this shaded part I have doubt I think that 10lakh to be excluded from 40lakh is it rightð?¤?
Answers (5)
In a case where letting out of building and letting out of other assets are inseparable (i.e., both the lettings are composite and not separable, e.g., letting of quipped theatre), entire rent (i.e. composite rent) will be charged to tax under PGBP or IFOS In a case where, letting out of building and letting out of other assets are separable (i.e., both the lettings are separable, e.g., letting out of refrigerator along with residential bungalow), rent of building will be charged to tax under House Property and rent of other assets will be charged to tax under PGBP or IFOS
Sudha Reddy
In a case where letting out of building and letting out of other assets are inseparable (i.e., both the lettings are composite and not separable, e.g., letting of quipped theatre), entire rent (i.e. composite rent) will be charged to tax under PGBP or IFOS In a case where, letting out of building and letting out of other assets are separable (i.e., both the lettings are separable, e.g., letting out of refrigerator along with residential bungalow), rent of building will be charged to tax under House Property and rent of other assets will be charged to tax under PGBP or IFOS
Since its separable in this question - 30L under HP and 10L under IFOS
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