Narendra engaged in retail trade let out his fully furnished house with lift, air conditioners, fridge, security staff and gardener at a rent of ₹1,00,000 per month. The agreement did not provide for separate rent for va

CS Executive · Tax Laws and Practice · PYQS · June 2019
Narendra engaged in retail trade let out his fully furnished house with lift, air conditioners, fridge, security staff and gardener at a rent of ₹1,00,000 per month. The agreement did not provide for separate rent for various facilities but is a composite agreement. The amount received by him would be chargeable to tax under the head:
(A) Other Sources
(B) Business Income
(C) Income from House Property
(D) Capital Gains

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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