03-06-2011, 06:42 PM
Kindly pLz if anyone reply to my query.
For tax year 2011 Income from property does not come in FTR.
Well what will be the treatment with reference to 15(7) if the individual or AOP derives income under other heads and his income from rent received is less than 150,000.
Lets say Income from business is 350,000 and rent received is 70,000. should we add both and apply tax under normal tax regime. Now should we also mention that 70000 in income from property or just simply merge it in business income.
For tax year 2011 Income from property does not come in FTR.
Well what will be the treatment with reference to 15(7) if the individual or AOP derives income under other heads and his income from rent received is less than 150,000.
Lets say Income from business is 350,000 and rent received is 70,000. should we add both and apply tax under normal tax regime. Now should we also mention that 70000 in income from property or just simply merge it in business income.
