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icome from hp
Direct Taxation
an assesse has lent out his building for hotel business. is he taxable uunder the head income from hp
Answers (3)
1. Rent received for only building = IFHP 2. Rent received for building with for some other services (i.e parking space, security service, etc.,) = Rent for Building (IFHP) & Rent for services (IFOS / PGPB) 3. Rent received for building with for some other assets (i.e furnitures, utensils, etc., ) = Rent for Building (IFHP) & Rent for services (IFOS / PGPB) 4. The property (Building/appurtenant to building) owner using the property to his or her own business / profession = Exempt because annual value is nil
Ravikumar Pandi
1. Rent received for only building = IFHP 2. Rent received for building with for some other services (i.e parking space, security service, etc.,) = Rent for Building (IFHP) & Rent for services (IFOS / PGPB) 3. Rent received for building with for some other assets (i.e furnitures, utensils, etc., ) = Rent for Building (IFHP) & Rent for services (IFOS / PGPB) 4. The property (Building/appurtenant to building) owner using the property to his or her own business / profession = Exempt because annual value is nil
3. Rent received for building with for some other assets (i.e furnitures, utensils, etc., ) = Rent for Building (IFHP) & *Rent for assets* (IFOS / PGPB)
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