• Income of head for rental income of poultry farm

Sr,
 I was running my layer poultry farm for the last three years and filing my return regularly but this year I have given it on rent,
 Kindly inform the head of income for the rent received to file the return for assessment year 2017-18.
 Thanking you in anticipation
 yours sincerely
 Mrs. Rafat
Asked 7 years ago in Taxation

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5 Answers

rental income would fall under head income from other sources

Ajay Sethi
Advocate, Mumbai
95168 Answers
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Income from other sources.

Devajyoti Barman
Advocate, Kolkata
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till last year you were carrying on business of poultry farming and hence filing return under head business and profession

2)since you have given poultry farm on rent it would fall under head income from other sources

Ajay Sethi
Advocate, Mumbai
95168 Answers
7604 Consultations

5.0 on 5.0

Kindly inform the head of income for the rent received to file the return for assessment year 2017-18.

This will come under the head income from other sources.

T Kalaiselvan
Advocate, Vellore
85369 Answers
2231 Consultations

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Kindly suggest as to which head is appropriate to chooose from business and profession and income from other sources?

It is worthwhile to mention that I was filing my return under the head Business and profession before I gave it on rent this year.

This will come under income from other sources in your private capacity.

Business and profession are not the concern now.

T Kalaiselvan
Advocate, Vellore
85369 Answers
2231 Consultations

5.0 on 5.0

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