The Income Tax Appellate Tribunal (ITAT) bench has held that the rental income received by the builder cannot be treated as business income and the same must be taxable under the head “Income from House Property” under the Income Tax Act, 1961. The assessee, a firm engaged in the business of builders & developers, received […]
The post Rental Income from Letting Out Properties by Builder is House Property Income: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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