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:C
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