Mr. X took a house on rent of ₹ 10,000. He sublet half the house to Mr. Y on a rent of ₹ 6,000. This income of ₹ 1,000 from sub-letting half the house (₹ 6,000 – ₹ 5,000) will be taxable in the hands of Mr. X under the head
A. House Property
B. Profits and Gains of Business or Profession
C. Income from other sources
D. Any of the above
Answer:C
Mr. X took a house on rent of ₹ 10,000. He sublet half the house to Mr. Y on a rent of ₹ 6,000. This income of ₹ 1,000 from sub-letting half the house (₹ 6,000 – ₹ 5,000) will be taxable in the hands of Mr. X under the head
A. House Property B. Profits and Gains of Business or Profession C. Income from other sources D. Any of the above